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Polychain moves $3.1M in EIGEN to Coinbase
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Polychain moves $3.1M in EIGEN to Coinbase

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  • Polychain Capital moved 14.65 million EIGEN tokens worth about $3.09 million to Coinbase Prime.
  • The transfer was flagged by blockchain analytics platform EmberCN.
  • Polychain still holds 70.29 million EIGEN after the transfer, according to the report.

Polychain Capital moved 14.65 million EIGEN (CRYPTO:EIGEN) worth about $3.09 million to Coinbase Prime.

EmberCN flagged the transfer, which occurred about six hours before BitcoinWorld published its report.

Polychain previously unstaked 131.8 million EIGEN three months ago, according to EmberCN's data.

The firm later restaked 46.86 million EIGEN, leaving other tokens available for transfer.

The deposit does not confirm that Polychain plans to sell the transferred tokens, according to the report.

Coinbase Prime provides institutional trading and custody services for digital assets.

EIGEN is the native token of EigenLayer, an Ethereum-based protocol focused on restaking.


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