Amid a generally bullish crypto market, MEV-focused project Eden Network has announced it will cease operations, citing an inability to compete in a more mature and challenging MEV ecosystem.
The decision marks the end of core services, including Eden RPC, Eden Bundles, Mempool Stream, and Tx Explain.
As part of its closure plan, Eden Network will distribute its remaining 2,000 ETH treasury to EDEN holders through a fixed-rate buyback at 0.00001506 ETH per token.
The redemption process, open exclusively to non-U.S. residents, runs until September 30 at 23:59 UTC. Holders with unstaked tokens have been urged to complete the process promptly, as any unclaimed funds will go toward company liquidation.
Despite the shutdown announcement, EDEN’s price defied expectations, surging 73% in the past 24 hours. The rally has left many traders speculating on short-term market dynamics rather than the project’s long-term fate.
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