Whale Dumps EIGEN & Takes $470K Loss as New Meme Coin Staking App Crypto All-Stars Catches Whale Attention

Think of it like this: imagine using the same dollar to buy coffee and secure a bank loan. That's basically what EigenLayer does for Ethereum stakers.

A whale investor has sold their EigenLayer (EIGEN) tokens at a loss, sparking speculation about where the funds will be headed next.

According to blockchain tracker Lookonchain, the investor purchased 909,000 EIGEN tokens earlier this month for around $3.56 per token, totaling about $3.2 million.

However, the investor has already begun selling their holdings.

So far, they've sold 772,000 EIGEN tokens at a lower price of $3.10 per token, netting around 988.5 ETH ($2.3 million) for a loss of about $407,000.

The whale still holds nearly 140,000 EIGEN, valued at around $449,000.

This move has attracted attention, especially considering the investor's previous success in turning $23 million into $65 million within a year by trading PEPE, ONDO, and BEAM.

Selling EIGEN at a loss could indicate the investor sees limited potential remaining in the token, particularly given that EIGEN is still trading below its launch price.

EigenLayer's restaking protocol has generated significant interest within the crypto community.

The protocol essentially allows Ethereum stakers to use their stake to secure other services and earn additional rewards.

This setup aims to solve the problem of fragmented security in crypto and helps new projects get started more easily and affordably.

With over $10 billion already locked in, many Web3 users are betting big on the project.

The native EIGEN token has a market cap of $740 million.

While some whales may be offloading, many smaller investors still see huge potential in the restaking protocol.

EigenLayer offers a unique approach to Ethereum staking, attracting the attention of investors.

While EigenLayer focuses on restaking, some whales may be seeking something else for their next big play, especially if they're interested in the meme coin space.

Crypto All-Stars (STARS) is a project that could pique their interest.

Like EigenLayer, Crypto All-Stars revolves around staking, but with a twist catering to meme coin enthusiasts.

The main feature of Crypto All-Stars is the MemeVault, which allows users to stake popular meme coins, such as PEPE and SHIB, to earn STARS tokens.

Investors are flocking to the project's presale, believing it could disrupt the traditional meme coin model.

The presale has already raised over $2.1 million, offering STARS tokens for just $0.0014887 each.

However, the price will increase again in less than 24 hours, so those who invest early will get a lower entry point.

To further enhance its appeal, Crypto All-Stars has already amassed a substantial following on Twitter and Telegram.

Additionally, Coinsult and SolidProof have audited STARS, and both found no issues with the code.

If that's not enough, STARS is currently ranked fourth on CoinSniper.net.

Crypto All-Stars could be an attractive next move for experienced whale investors.

While it takes a vastly different approach than EigenLayer, it still caters to the demand for innovative staking solutions.

Visit Crypto All-Stars Presale

Readers are also advised to read CryptoPotato's full disclaimer.

The above is the detailed content of Whale Dumps EIGEN & Takes $470K Loss as New Meme Coin Staking App Crypto All-Stars Catches Whale Attention. For more information, please follow other related articles on the PHP Chinese website!