A certain Whale/institution redeemed about 1.27 million EIGEN from the EigenLayers stake contract and sold them on-chain since 7 p.m. last night.

Odaily Planet Daily News According to on-chain analyst Yu Jin's monitoring, in October, 21 Addresses spent $32.45 million USDC to purchase 8.917 million EIGEN at an average price of $3.64 per token. The Whales/institutions started redeeming EIGEN and selling them on-chain since last night. Since 7:00 last night, they have redeemed 4 Addresses from the EigenLayer staking contract for 1,270,507 EIGEN (5.02 million USD) and are selling it on-chain for ETH or USDC. A few days ago, when EIGEN reached a peak of $5.6, their 8,917,000 EIGEN tokens had a floating profit of $17.65 million. However, it has now fallen back to the breakeven line.