On July 23, on-chain activity pointed to possible early accumulation in the token even as the flat price action suggested no confirmed breakout yet.
EigenLayer recorded 60 whale transactions and 219 new wallets on July 23 while its price remained flat near $0.23. The combination suggests accumulation by larger holders and fresh user interest, rather than a decisive upward move. Flat pricing alongside heavier on-chain activity can indicate investors are building positions before volatility increases, but the data does not confirm a breakout.