Polychain: 122M EIGEN Tokens Unlocked From EigenLayer

Polychain addresses redeemed 122 million EIGEN tokens valued at $23.88 million from EigenCloud staking contracts seven hours ago, equal to 16.5% of circulating supply.

The move marks the largest single unlock tied to the re-staking protocol in the past year and raises immediate questions about potential exchange flows or OTC sales.

On the four-hour chart EIGEN tests upper Bollinger resistance at $0.2 while the EMA50 at $0.19 and EMA200 at $0.18 continue to act as layered support. Neutral RSI at 52.79 paired with a MACD death cross at zero suggests momentum has stalled, making a healthy retracement toward the 50-EMA likely before any continuation higher.