A brief overview of Eigen:
1. The first wave of institutional unlocks has been completed. Some institutions sold OTC, while others used TWAP to offload their tokens. The team has managed the selling pressure well, alleviating the biggest risk point.
2. The team is not resting on their laurels; Sereem remains one of A16Z's favorite founders, maintaining strong fundraising capabilities. The team has also undergone a restructuring this year, replacing a group of traditional employees who were dealing with regulations, with the founder directly engaging with institutions.
3. They have found a new angle in their narrative. While what they do may not be crucial, they can find secondary market buyers once the price rises.
Previously, they sold before the unlock, and there have been new positions established recently.
Show original
20.78K
65
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.