#WhiteHouseCryptoSummit

EigenLayer's native token, EIGEN, has experienced significant price volatility in recent months, influenced by substantial sell-offs from major holders.

In October 2024, shortly after EIGEN's debut, prominent crypto figure Justin Sun deposited 3.62 million EIGEN tokens, valued at approximately $14.1 million, into Binance. This move followed his earlier transfer of 5.24 million airdropped EIGEN tokens to HTX, leading to a sharp price decline from $4.10 to around $4.00.

Around the same time, another significant holder sold 1.67 million EIGEN tokens received from the EigenLayer team wallet, further contributing to price instability.

More recently, in February 2025, a whale investor deposited 2 million EIGEN tokens, worth $3.18 million, into Binance. This investor had previously purchased the tokens at $4.53 each, incurring a substantial loss of $5.89 million due to the price drop to $1.59.

As of March 8, 2025, EIGEN is trading at $1.25, reflecting a 9.25% decrease over the past 24 hours and a 77.90% decline from its all-time high of $5.66.

These events highlight the impact of large-scale token dumps on EIGEN's market performance, underscoring the importance of monitoring whale activities in the crypto market.