CandleFocus

$EIGEN Activity Spikes: 2-Year-Old Wallet Withdraws $9M from Binance

Author: Content Editor
A dormant wallet that had been inactive for two years suddenly cashed out $9 million worth of $EIGEN tokens in 43 hours from Binance. This caught the attention of the crypto community, as the wallet had rarely been used prior to this activity. The wallet withdrew 1.6 million $EIGEN tokens worth $7.25 million in just 20 minutes, following an earlier withdrawal of 399,998 $EIGEN tokens worth $1.8 million. The wallet now holds $9 million in $EIGEN tokens and $278,613 in $SSV tokens. The sudden increase in activity has raised questions about the purpose of the withdrawals, with some speculating market sell-offs while others see it as active accumulation or institutional activities. The wallet's activity has led to discussions on whether it is market manipulation or insider business. Analysts are closely monitoring the wallet's activity on Spot On Chain's platform, highlighting the importance of real-time tracking for traders and investors.

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