Polychain-related addresses unstake and redeem 122 million EIGEN, accounting for 16.5% of circulating supply

According to monitoring by on-chain analyst Yu Jin @EmberCN, approximately 7 hours ago, a batch of addresses suspected to be associated with Polychain unstaked and redeemed 122 million EIGEN from the EigenCloud (formerly EigenLayer) staking contract. This amount is valued at approximately $23.88 million and represents 16.5% of EIGEN's current circulating supply.

Currently, the related EIGEN remains in these addresses and has not been transferred further. Yu Jin stated that these tokens originated from an investment allocation in 2024, and Polychain was one of the early lead investors in EigenCloud.