Whale Purchased 11.21 Million EIGEN Tokens, With Unrealized Loss of $16 Million

Eigenlayer (EIGEN) has gained the spotlight after a prominent whale is facing massive losses in his EIGEN holdings. That is according to data shared by crypto analyst IMK.fun today.

Whale faces $16 million EIGEN loss

As per the metrics, the trader bought 11.21 million Eigenlayer coins in October 2024 at an average price of $3.1, which totaled around $34.75 million.

The famous $EIGEN believer @eigenbuyer accumlated 11.21M $EIGEN during October, with an average cost of ~$3.1.

He staked it all and never sold. At one point, he was once profit by over $27M, with $EIGEN dropped to $1.7, he is now in $16M loss.

More on 👉https://t.co/2Jkc0aKFyC pic.twitter.com/QKxbb88ubc

— lmk.fun 🦜 (Prev. Scopescan) (@lmkfun) February 8, 2025

Eigenlayer, a DeFi staking app, has become an important participant in the digital asset landscape, with its primary cryptocurrency EIGEN being used to participate in staking.

The whale staked all his EIGEN tokens and never sold them. At a given time, his staked holdings had a profit of over $27 million. Since EIGEN prices dropped to a low of $1.7, he currently holds an unrealized loss of $16 million.

EIGEN’s price has moved wildly since the investor’s acquisition. Its recent price decline could be an indicator of changing market sentiment or a move by investors to recoup profits using some or all of their holdings.

Despite buying and holding EIGEN tokens since October, the whale is experiencing huge losses. This highlights the unpredictable nature of the crypto market where even investors with long-term holdings can witness significant losses.

The case revolving around the whale’s EIGEN investments is a reminder of the risks inherent in the crypto landscape. While prominent tokens like LDO, AAVE, and EIGEN have demonstrated to be profitable for long-term investors, their current performance has not been to expectations. This highlights the significance of risk management and diversification in the volatile landscape of crypto investing and trading.

EIGEN price updates

The ongoing EIGEN’s price declines coincide with the recent wild volatility and bearish investor sentiment in the broader crypto market. EIGEN is currently facing its worst price performance. It saw its lowest price of $1.62 three days ago on Fed.5, 2025. Its price has been down 49.2% in the past month.

EIGEN, a decentralized chain running on top of Ethereum, allows users to restake their staked ETH to earn rewards. Its tremendous price decreases can be seen in its TVL.

According to DeFiLlama data, EIGEN’s TVL currently stands at $11.46 billion from a high of $18.7 billion on December 7. Despite the decrease, EIGEN is currently the third-largest DeFi staking platform with TVL valued at $11.46 billion, behind AAVE’s $19.37 billion and Lido’s $24.74.

Last month, EIGEN upgraded its Reward v2 platform. The revamp marked a significant development for the EigenLayer ecosystem, providing new trading features aimed at making staking reward distribution more efficient, flexible, and customized to investors’ needs.

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