A previously inactive crypto wallet has re-emerged with significant activity in the EigenLayer ecosystem.
The wallet, dormant for over two years, withdrew 1.6 million EIGEN tokens—worth $7.25 million—from Binance, bringing its total withdrawals over the past 43 hours to 2 million EIGEN, valued at $9.03 million. These purchases were made at an average price of $4.52 per token.
A 2-year-old dormant wallet withdrew 1.6M $EIGEN ($7.25M) from #Binance 20 minutes ago, bringing its 43-hour total to 2M $EIGEN ($9.03M) at ~$4.52.
Notably, before $EIGEN, this wallet had only withdrawn 8.89 $SSV from Binance in March 2023 (646 days ago).
Follow @spotonchain… pic.twitter.com/a0DgG3IMod
— Spot On Chain (@spotonchain) December 9, 2024
Interestingly, this whale’s previous activity was minimal, having only accumulated 8.89 SSV tokens (valued at $284) on March 3, 2023—646 days ago. The wallet still holds all its SSV tokens alongside its freshly acquired EIGEN.
Meanwhile, EigenLayer continues to dominate the DeFi space, with its total value locked (TVL) reaching an impressive $18.75 billion.
After experiencing a mid-year slump, EigenLayer’s TVL has been on a consistent upward trajectory and is now approaching its all-time high.
This growth underscores the platform’s rapid ascent as one of the largest and most influential protocols in the DeFi sector.
EigenLayer Sets Up For Major Upgrade
As Ethereum’s largest restaking protocol, EigenLayer is gearing up for a significant upgrade to its rewards system in January 2025. The planned changes will enhance flexibility across its ecosystem by enabling third-party protocols, known as actively validated services (AVSs), to allocate rewards to validators based on performance. Additionally, validators will have the ability to set their own fee structures, fostering a more dynamic and customizable ecosystem.
🔥 @eigenlayer to enhance restaking rewards#EigenLayer, @ethereum's $ETH largest restaking protocol, is set to introduce an upgrade to its rewards system in January 2024. The changes aim to increase flexibility within its ecosystem, allowing third-party protocols—referred to as… pic.twitter.com/frWDGsb7PJ
— PHOENIX – Crypto News & Analytics (@pnxgrp) December 7, 2024
With TVL nearing $20 billion and the upcoming enhancements, EigenLayer is positioned to lead the next phase of the bull market, driving innovation and shaping the future of decentralized finance. All eyes remain on this whale’s moves and the broader impact on EigenLayer’s ecosystem.
EigenLayer's TVL has reached $18.75B! 🔥
After a mid-year dip, it has been climbing steadily and is now approaching its all-time high.
With TVL nearing $20B, @eigenlayer has rapidly established itself as one of the largest and most influential platforms in DeFi.
It is… pic.twitter.com/Y7PcpKS4DC
— M6 Labs (@M6Labs) December 9, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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