While $EIGEN may currently be experiencing low market sentiment, several promising indicators suggest the project has long-term potential.

Despite the sluggish market, the network has continued to onboard new operators throughout the year. The number of active operators has steadily grown to 146, signaling sustained belief in the project’s future.

Additionally, $EIGEN’s Total Value Locked (TVL) has remained stable, indicating that participants are committed to the project for the long haul. Even though the broader market remains stagnant, $EIGEN’s token price has shown resilience. Currently sitting at $3.37, it is still well above its lowest point of $3.05.

These solid fundamentals suggest that $EIGEN is positioning itself for future growth, even as short-term sentiment wanes. With ongoing operator growth and stable TVL, some market watchers believe a $20 price per token is a possibility down the line.

However, not all investors have fared well. A smart whale holding 3.37 trillion $PEPE ($31.44M) recently took a significant loss trading $EIGEN.

On October 3 and 4, the whale spent 1,360 ETH ($3.24M) to purchase 909,000 $EIGEN tokens at $3.56.

The whale then sold 772,000 of those tokens for 988.5 ETH ($2.39M) at $3.10, incurring a loss of $407,000. The whale still holds 139,800 $EIGEN, valued at $449,000.

$EIGEN Token Unlock Event

Interestingly, there’s also an upcoming cliff unlock for $EIGEN within the next seven days, with 359 days remaining until the unlock event. As the project continues to build and weather market challenges, investors are watching closely to see if $EIGEN can capitalize on its strong fundamentals for future growth.

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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