Tron founder Justin Solar acquired a good bigger quantity of EIGEN tokens, 3.62 million, value roughly $14.1 million. This was achieved after he had already acquired an $8.75 million airdrop from EigenLayer.

Solar acquired these tokens as a part of EigenLayer's 9.93 million token unlock program. He instantly deposited them on Binance at a worth of round $3.89. The $8.75 million that Solar acquired by the airdrop was additionally instantly transferred to the HTX cryptocurrency alternate.

Nevertheless, particulars about Solar's involvement within the EigenLayer crypto undertaking have emerged amid intense scrutiny surrounding the DeFi undertaking. EIGEN ranks 83rd among the many international agglomeration of cryptocurrencies.

As of this writing, Eigenlayer's market capitalization was roughly $763.5 million. This mirrored an 11% bounce. Based on TradingView's analytical charts, EIGEN's worth has risen considerably after a big decline over the previous few days. The crypto token has soared 37% previously 4 days, rebounding from final Sunday's low of $3.036 and reaching $4.160 early Wednesday morning. On the time of writing, EIGEN was buying and selling at $4.063, barely again from the day's highs.

Solar's involvement in EigenLayer has sparked hypothesis amongst many within the cryptocurrency group. Final week, a market observer named Karl claimed on X that 40% of staked EIGEN tokens have been coming from 13 addresses. He identified that such a improvement might mislead the general public into considering that tokens are in circulation and will additional encourage uninformed funding choices.

Additionally learn: Unlocking EigenLayer token hits roadblock: Worth drop and safety considerations

Nevertheless, observers highlighted minimal staking exercise by traders. He famous that each one addresses have began the unstaking course of and won’t obtain staking rewards. He additionally campaigned for transparency in EigenLayer's token distribution and praised the staff for shortly addressing the difficulty.