Market Momentum: EIGEN Token Sees Significant Growth Following Justin Sun’s Investment

EIGEN Token Reaches $5.23 as Justin Sun Invests $37.3 Million

In a remarkable turn of events, the EIGEN token has surged to reach a new all-time high of $5.23. This significant price increase follows a prolonged period of stabilization around the $4.69 level. As we explore the transaction data and market activity, it becomes clear that Justin Sun’s investment strategy has played a crucial role in driving this upward momentum.

Recent transactions have revealed a surge in small-value trades, with an astonishing 322.79% growth in transactions ranging from $1-$10. This significant increase suggests strong retail trader engagement, indicating growing interest and participation from individual investors. Transactions within the $100-$1,000 and $1,000-$10,000 ranges have also seen substantial increases of 120.25% and 193.63%, respectively. This growth indicates that institutional players and smaller investment firms are also entering the market.

While higher-value transactions above $10 million remain inactive, this may suggest that large-scale institutional investors are yet to fully enter the fray. In contrast, user engagement metrics demonstrate a different narrative. Despite a decrease in new addresses of 4.8% in December 2024, active addresses have increased by an impressive 13.92%. This phenomenon indicates that existing users are more actively participating in the market, rather than seeing significant influxes of new participants.

Furthermore, the number of zero-balance addresses has risen by a staggering 37.60%, implying many investors are choosing to hold their positions and await further market developments before making trading decisions. This behavior often precedes price surges or major shifts in market sentiment.

Justin Sun’s investment strategy deserves attention as well. The Tron founder deposited an additional 196,380 EIGEN ($964K) to #HTX just one hour ago, bringing his total investments to a staggering $37.3 million over the past month alone. This level of dedication and conviction is likely to have a substantial impact on market sentiment.

The recent transaction data indicates that the EIGEN token has demonstrated resilience in the face of market fluctuations, maintaining levels above $4.69 despite ongoing volatility. The current support level around $4.77 has proven essential for sustaining price stability during these trading activities.

As we analyze the Awesome Oscillator’s reading of 0.122, it becomes clear that this upward momentum is likely to continue in the near term.

Source: blockonomi.com