TechFlow, October 18 — According to Eigen monitoring, an Ethereum whale has ended a 15-month restaking mining operation and transferred 12,506 ETH (approximately $32.58 million) to Bybit. The whale earned a profit of up to $19.43 million from token airdrops and ETH price appreciation, achieving an investment return rate close to 100%.
Between July and August 2023, the whale withdrew 11,987 stETH (worth about $22.8 million at the time) from Bybit at an average price of $1,902 per ETH, then deposited them into restaking platforms such as EigenLayer, Puffer, and Zircuit to qualify for airdrop opportunities. The breakdown is as follows:
- Airdrop earnings: approximately $9.65 million, including 2.667 million EIGEN tokens and 845,000 PUFFER tokens;
- Profit from Ethereum price appreciation: approximately $8.42 million;
- Staking rewards: approximately $1.36 million, equivalent to 519 ETH.
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