Polychain: 14.65M EIGEN Moved to Coinbase Prime

Polychain transferred 14.65 million EIGEN tokens valued at $3.09 million to Coinbase Prime addresses six hours ago, part of a larger May redemption totaling 131.8 million tokens.

Of the original batch, 46.86 million EIGEN were restaked one month ago while 70.29 million remain in holding addresses; separately, 122 million EIGEN worth $23.88 million unlocked from staking seven hours ago, representing 16.5% of circulating supply.

Price action on the 4h chart shows EIGEN at $0.21 inside Bollinger Bands with EMA50 at $0.21 acting as immediate support and EMA200 at $0.2 providing deeper floor, while MACD death cross and neutral RSI at 43.61 suggest limited momentum until a test of upper band resistance at $0.24 materializes.