- A whale secured $596K profit after holding EIGEN for 4 days, while still holding $13.5M worth with $712K in unrealized gains.
- EIGEN showed strong volatility from $5 to $1.28, while MACD and RSI suggest cautious optimism amid renewed buying interest in May.
- Lombard’s LBTC integration enables BTC holders to earn dual rewards in Eigenlayer’s DeFi ecosystem, boosting restaking utility.
A whale recently deposited 8 million EIGEN, worth $10.1 million, to Binance, securing a quick $596,000 profit. The move came after just four days of holding the tokens. Despite EIGEN dropping 11.2% in 24 hours amid a broader market pullback, this wallet still holds 10.9 million EIGEN valued at $13.5 million. With $712,000 in unrealized gains, the investor appears to be managing risk amid turbulent market conditions.
Volatility Remains High as Technicals Flash Mixed Signals
The EIGEN/USDT pair on Binance highlights extreme volatility between November 2024 and May 2025. Price rose from $3.00 in November to nearly $5.00 in December. This bullish trend featured strong green candles and sustained momentum.
Source: CryptoRank
However, January 2025 marked a turning point. Prices sharply dropped from the $5.00 level as selling pressure surged. February extended this downtrend, bringing the price below $2.00. Trading volumes spiked to 2.07 million EIGEN during these volatile phases. Between March and April, the asset consolidated between $1.00 and $2.00. Volatility eased, and the trend turned neutral. The price now stands at $1.287, down 3.52% on the day, with a recent low of $1.228.
MACD values are currently 0.052, 0.105, and 0.053. These values signal mild bullish momentum, though previous crossovers suggest indecision. Additionally, RSI sits at 62.66, slightly above the signal line at 55.29. This suggests that the token isn’t overbought yet.
Lombard Partnership Brings Bitcoin to Eigenlayer Restaking
Besides market fluctuations, the recent Lombard and Eigenlayer collaboration adds fundamental support. Two weeks ago, Lombard partnered with Eigenlayer and the Eigen Foundation. The alliance integrates Bitcoin into Eigenlayer’s restaking system through Lombard’s LBTC token.
This move enables BTC holders to earn yield via restaking. Consequently, they can secure AVSs like LayerZero and Babylon-validated networks. Moreover, LBTC lets users stay liquid while joining DeFi activities. Lombard also announced dual reward mechanisms for LBTC holders—base yield from Babylon and restaking returns from Eigenlayer.
Eigenlayer now supports over 190 AVSs and 80,000 staking addresses. Additionally, Lombard and Eigenlayer are working on slashing risk frameworks to ensure added security for restaked BTC.
