EDEN Skyrockets 70% Post Eden Network Closure - Coinspeaker

Key Notes

  • EDEN token surged 70% in 24 hours to $0.0721 with a 409% rise in volume.
  • Eden Network announced it will shut down operations, five years after its debut.
  • EDEN is testing the upper boundary of a long-term symmetrical triangle weekly.

EDEN, the native token of Eden Network, has gained 70% in the past 24 hours, briefly hitting $0.0721 before settling around $0.06751 at the time of writing.

The rally comes despite Eden’s announcement that it will be shutting down operations, marking the end of a four-year journey that began as Archer DAO in 2020.

Trading volume also exploded 409.25% over the same period, as traders reacted to the closure news and the accompanying token retirement program.

From Miner Ally to Shutdown

Originally launched to generate MEV profits for Ethereum

ETH $4 628

24h volatility: 7.6%

Market cap: $558.44 B

Vol. 24h: $59.51 B

miners, Archer DAO rebranded to Eden Network in 2021 following the EIP-1559 upgrade, which reduced miner revenue potential.

At its peak, Eden’s partnerships represented over 50% of Ethereum’s hashrate, processing thousands of transactions daily through its MEV-protected RPC.

Why Is Eden Network Shutting Down?

Post-Merge, Eden became an MEV-Boost relay operator and, at its height, achieved the highest average block rewards among all relays. However, the relay and block-building market quickly became saturated and expensive, leaving only a few players.

Despite securing $17.4 million in seed funding in 2021, Eden ultimately could not maintain its position.

Eden announced the immediate closure of all Eden products, including Eden RPC, Eden Bundles, and Mempool Stream, while providing alternatives like Flashbots Protect and Blocknative.

A token retirement program will distribute the entirety of Eden’s 2,000 ETH treasury to EDEN holders (non-US residents only) at a fixed rate of 0.00001506 ETH per token (~66,401 EDEN = 1 ETH). The program runs until September 30, 2025.

EDEN Price Analysis: Symmetrical Triangle Test

On the weekly chart, EDEN is testing the upper boundary of a long-term symmetrical triangle formation after months of consolidation. The latest breakout attempt pushed RSI to 66.42, hovering near overbought territory.

Meanwhile, the MACD remains in bullish alignment with widening histogram bars, suggesting momentum is building.

EDEN Price Analysis | Source: TradingView

If EDEN breaks above the $0.033–$0.035 resistance zone on strong volume, the next target lies near $0.050, followed by $0.072, the high reached during the closure rally.

Related article: Solana (SOL) Explodes 13% amid Massive Tokenization PushA decisive breakout beyond $0.072 could open the door to $0.10 in the medium term, making EDEN one of the best crypto to buy in 2025. However, a rejection at current levels could send the token back toward support around $0.022.

nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)