Justin Sun recently acquired 3.62 million $EIGEN tokens from EigenLayer’s unlocked supply, valued at $14.1 million, and swiftly deposited them into Binance

Since EigenLayer’s listing on October 1, Sun, through his handle @justinsuntron, has accumulated a total of 8.86 million $EIGEN tokens, amounting to $35.61 million, at an average purchase price of $4.02.

Over the past 30 hours, two newly identified wallets, likely owned by the same individual, executed substantial purchases of $EIGEN. Wallet address 0x45cE invested 1,234 $ETH (equivalent to $3.01 million) to acquire 791,845 $EIGEN at a price of $3.8 per token.

Simultaneously, address 0x2425 spent 1,237 $ETH (about $3.02 million) to purchase 835,391 $EIGEN tokens priced at $3.61 each. This surge in buying activity has driven $EIGEN’s price upwards, now approaching the critical resistance level of $4, beyond which further price escalation is anticipated.

One Key Market Marker Makes Notable $EIGEN Withdrawal 

In a notable development, Galaxy Digital, one of the key market makers for $EIGEN, withdrew 470,000 tokens ($1.75 million worth) from Binance just three hours ago. Since this withdrawal, $EIGEN has surged by nearly 8%, climbing from $3.71 to over $4. Galaxy Digital had previously received 1.43 million market-making tokens on October 1, and its associated address had remained inactive for a week before today’s significant operation.

The recent movements surrounding $EIGEN highlight a dynamic market response, with Justin Sun’s active involvement and strategic deposits contributing to the token’s current price momentum and anticipated future performance.

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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