Justin Sun receives $8.75 million from EigenLayer airdrop: Arkham

Tron founder Justin Sun received $8.75 million from an Eigenlayer EIGEN +2.05% airdrop, according to Arkham Intelligence.

"Justin Sun got an $8.75 million airdrop from EigenLayer," the blockchain analytics platform posted to X on Tuesday. "How much did you get?"

Also on Tuesday, EigenLayer lifted transfer restrictions on its EIGEN token, which enabled trading on various exchanges. The move to permit stakeholders to trade and transfer EIGEN tokens follows the distribution of 86 million of those tokens during the protocol’s second “stakedrop” season. Tokens issued in this stakedrop, and the one held previously in April, were initially non-transferable.

It appears Sun is holding his EIGEN on HTX, the exchange where he serves on an advisory board . In February, Sun posted a screenshot of his HTX wallet, purportedly indicating that he was holding $1.6 billion worth of crypto at the time.

EIGEN was trading at $4.18 as of 2:27 p.m. ET, according to The Block Price Page . EigenLayer has a fully diluted valuation of over $7 billion.

EigenLayer allows users to stake ether to secure third-party networks or actively validated services. The platform's total value locked is currently more than $12 billion, significantly less than its peak of $20 billion in June of this year.