According to on-chain analyst Ember Monitoring, in October, USDC spent $32.45 million through 21 addresses to buy 8.917 million EIGEN whales/institutions at an average price of $3.64. Since last night, EIGEN has been redeemed one after another and sold on the chain. Since 7pm last night, they have had 4 addresses redeem 1,270,507 EIGEN (5.02 million USD) from the EigenLayer staked contract and are selling on the chain for ETH or USDC. A few days ago, when EIGEN rose to $5.6, their 8.917 million EIGEN was $17.65 million, but now it has fallen back to the cost line.