Qualia Research Institute Director Winslow Strong Sells All EIGEN Tokens, Generating Rumors about His Intentions

According to Spot On Chain data, Winslow Strong, Director of the Qualia Research Institute, has sold all of his 704,902 EIGEN tokens

Winslow Strong, the Director of Qualia Research Institute, has sold all of his 704,902 EIGEN tokens, together worth $2.23 million. The tokens were sold via AmberGroup and CowSwap, according to Spot On Chain data.

This large action has sparked rumors regarding Strong's intentions and how it might influence EIGEN's pricing. Notably, he also sold smaller amounts of two other restaking coins, SWELL and ETHFI, further adding to the curiosity surrounding his choice to exit these positions.

“Winslow Strong (@winslow_strong), director of Qualia Research Institute, sold all 704,902 $EIGEN ($2.23M) via #AmberGroup and #CowSwap 10 hours ago.

He claimed most of these tokens from @EigenLayer on its Oct 1 launch. He also sold small amounts of two other #Restaking tokens,… pic.twitter.com/geVbDfwc4e

— Spot On Chain (@spotonchain) November 8, 2024

Meanwhile, at press time, EIGEN was being traded at around $3.20, showing a slight increase from the previous close of 0.03896%. Over the last 24 hours, EIGEN had gained a rather remarkable 4.00%.

The low touched $2.95, demonstrating continuous changes in value among market interest, and the token's intraday high reached $3.31. The transaction also did not slow down more general market activity, and several bigger players were still exhibiting hope in EIGEN's possibilities.

Zircuit Fairdrop and Whale Staking Reinforce EIGEN Community and Investor Confidence

In line with this sentiment, as we previously noted, Layer 2 project Zircuit had a “fairdrop,” or token distribution event, designed to honor EIGEN token holders and stakers with ZRC tokens.

By providing real rewards to committed members, this project aims to increase community involvement and improve the Zircuit environment. Reflecting a continuous attempt to establish and confirm a dedicated user base for Zircuit and EIGEN, the fairdrop distribution has encouraged more involvement.

Beside that, a whale lately staked 1.63 million EIGEN tokens, valued roughly at $5.47 million, on October 18. Although at that time the project was losing around $560,000, this action shows the ongoing faith and dedication of important investors in the project.

The whale's choice to keep staking such a large sum emphasizes a long-term view and implies that even with transient volatility, EIGEN's future value is highly expected.

Also, as we previously highlighted, on October 11, 2024, for both spot trading and its Trading Bot operations, Binance also added three pairings: EIGEN/TRY, PEPE/FDUSD, and SUI/FDUSD.