Polychain Capital Deposits $3.1M in EIGEN to Coinbase Prime, On-Chain Data Shows

BitcoinWorld Polychain Capital Deposits $3.1M in EIGEN to Coinbase Prime, On-Chain Data Shows Polychain Capital, a prominent crypto venture capital firm, has moved a significant amount of EIGEN tokens to Coinbase Prime, according to on-chain data tracked by EmberCN.

The transaction, which occurred approximately six hours ago, involved 14.65 million EIGEN tokens valued at roughly $3.09 million. Details of the Transfer The transfer was flagged by EmberCN, a blockchain analytics platform that monitors large token movements.

This deposit to Coinbase Prime, a platform often used by institutional investors for trading and custody, follows a period of notable activity by Polychain Capital regarding its EIGEN holdings.

EmberCN’s data reveals that Polychain Capital had previously unstaked 131.8 million EIGEN three months ago. Of that amount, the firm restaked 46.86 million EIGEN, leaving a substantial portion in liquid form.