On-chain analyst EmberCN said Polychain transferred 14.65 million EIGEN to Coinbase Prime about six hours ago, with the tokens valued at $3.09 million based on the figures cited in the report. The transfer came from EIGEN that Polychain had redeemed from staking three months earlier. EmberCN’s breakdown also shows how the rest of that redeemed position was handled. Of the 131.8 million EIGEN that Polychain unstaked at the end of May, 46.86 million were deposited back into staking one month ago, 14.65 million were sent to Coinbase Prime today, and the remaining 70.29 million are still sitting in the address. The update is a brief on-chain flow report and does not include further details on whether the transfer was intended for custody, trading, or any other use.
According to ChainCatcher, on-chain analyst EmberCN said Polychain moved 14.65 million EIGEN to Coinbase Prime around six hours ago. The transferred tokens were valued at $3.09 million based on the figures cited in the update.
EmberCN said the tokens came from EIGEN that Polychain had redeemed from staking three months ago. Of the 131.8 million EIGEN that Polychain unstaked at the end of May, 46.86 million were deposited back into staking one month ago, 14.65 million were transferred to Coinbase Prime today, and the remaining 70.29 million are still held at the address.
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