The layer 2 project launched last year had more than twice the transaction volume seen on the Ethereum blockchain over the past 30 days, according to Coinbase CEO Brian Armstrong.
Fintech firm Block plans to invest 10% of its monthly bitcoin-related gross profits into buying the asset itself till the end of the year, adding to its existing stash of $482 million worth of bitcoin.
The $280 million move comes three days after EigenLayer announced its initial plans for its token genesis event, which attracted a range of criticisms, including how the airdrop allocation followed a linear distribution model that favored whales.