Crypto News

EIGEN Sees $1.34M Airdropped To Binance, Price Drops 9% Amid Whale Activity

A notable transaction occurred two hours ago when address 0x4b4…452db airdropped 365,000 $EIGEN tokens, valued at $1.34 million, into Binance, raising suspicions of a potential sell-off.

This same address had received 536,000 $EIGEN tokens through an airdrop from P2P.org a week ago and has been gradually moving smaller amounts to exchanges over the past three days. As of now, the address holds 159,000 $EIGEN, equivalent to approximately $590,000.

In parallel, $EIGEN has dropped 9% in the last 24 hours, reflecting market concerns. Meanwhile, a newly created address has been actively purchasing EIGEN tokens. Over the past day, this address spent 3.013 million USDC to acquire 791,000 EIGEN at an average price of $3.80 per token. The buyer first converted ETH to USDC, then used the ETH to purchase EIGEN, ultimately transferring the tokens to address 0x051…8d3.

$EIGEN Token Increased Trading Activity 

The $EIGEN token, connected to the EigenLayer protocol, has seen increased trading activity and market volatility as it recently became listed on major exchanges, including Binance, Coinbase, and OKX. The protocol’s Total Value Locked (TVL) has surged past $10 billion, signaling strong interest from the DeFi community.

However, with this newfound popularity comes heightened risk. EigenLayer has become a target for phishing attacks, with some users losing millions by clicking on fraudulent airdrop links or mistakenly signing malicious wallet permissions. To safeguard assets, users are advised to verify official links and thoroughly check wallet signatures to avoid falling victim to scams.

As interest in EIGEN grows, investors should remain cautious, balancing enthusiasm with diligence in the face of evolving security threats.

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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