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nezirije

@nezirije

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A whale/institution used $32.45 million USDC to buy 8.917 million $EIGEN on the chain from 10/3 to 10/15, with an average price of $3.64. Yesterday afternoon, I saw multiple addresses depositing EIGEN into the EigenLayer staking contract, so I checked it out. I found that the EIGEN of these addresses were all bought on the chain through USDC in recent days, and these USDCs were all cross-chained through the cross-chain tool DLN. Obviously, these addresses belong to the same whale or institution. After screening and checking, I finally found 21 addresses of the whale/institution. These 21 addresses all bought EIGEN after receiving USDC through DLN cross-chain. He spent a total of $32.45 million to buy 8.917 million EIGEN from 10/3 to 10/15, with an average price of $3.64. These EIGENs are currently stored in EigenLayer.
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At 10 am yesterday, BGB fell by nearly 60% in 10 minutes, from 1.13 to the lowest point of 0.53, but then within 20 minutes, it pulled back to 1.1. What kind of operation is this? This article will analyze the reasons for this plunge. "On January 23, after OKB hit 48.36, it triggered the liquidation of multiple large leveraged positions. In addition, the market impact caused the price of the currency to fall, which further triggered the liquidation of pledged loans, leveraged transactions and cross-currency transactions, and finally caused the price to fall to 25.1 in a short period of time." This time, BGB fell by nearly 60% in 10 minutes. Fortunately, the buying was strong and pulled back to the original price. Bitget has not yet issued a statement to explain the specific reasons. According to my guess, it should also be caused by serial liquidations.
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Economic model: Bitcoin's economic model is centered on its scarcity. The total upper limit of 21 million, plus the halving mechanism, constitutes its economic foundation. The surrounding ecology includes the issuance and trading of various tokens and stablecoins, which are also inspired by the Bitcoin economic model to some extent. Market and investment: The Bitcoin ecosystem also includes market analysis, investment strategies, and various financial products and services around Bitcoin. The launch of Bitcoin ETFs and the participation of institutional investors are important components of this ecosystem. The charm of the Bitcoin ecosystem lies in its decentralization, security and value storage characteristics. It is also an evolving field driven by technological innovation, market demand and community consensus. Its development is not only a technological innovation, but also the intersection of social, economic and cultural phenomena.
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