Keith invested over $10 million in EIGEN tokens in 8 days

A major cryptocurrency investor holding over $200 million in digital assets has spent 3.391 ETH ($10.44 million) in the last 8 days to buy 4.483 million EigenLayer (EIGEN) tokens. This was reported by experts from Spot On Chain. Whale’s activity has attracted the attention of many market participants, as it may indicate an increased interest in the token. At the moment, the investor has 5.04 million EIGEN with a total value of $11.14 million. This makes EigenLayer the 2nd largest asset in the portfolio of a major hodler, after Ethereum (ETH). The latest purchase was made just a few hours ago. This indicates continued accumulation. Notably, a large token purchase could indeed signal a high level of confidence in the project or the potential for the asset’s value to rise in the coming weeks. Experts speculate: the investor may have some insider information about the product. Such actions of large traders often serve as an indicator for other traders and can provoke a surge of purchases.

EIGEN token is becoming more and more popular, and its place in the portfolios of large investors confirms it. However, such active purchases sometimes cause concern among traders, as a sharp rise in price may be followed by a correction if holders start selling off assets en masse, locking in profits.

Experts note that such whale steps may affect the liquidity and price of EIGEN. If the token continues to attract the attention of large participants, it will strengthen its position in the market. Nevertheless, small investors should be cautious given the possible market fluctuations. Whale’s portfolio also shows that ETH remains a core asset, but EIGEN’s growing share emphasizes confidence in the future of the cryptocurrency industry and the staking sector.