The recent announcement of Eden Network ceasing its operations marked the end of a notable four-year journey that started as Archer DAO in 2020. Despite this closure, EDEN coin experienced a substantial 70% surge within 24 hours, peaking temporarily at $0.0721, with reports indicating the price stabilized around $0.06892. The trading volume also spiked by an impressive 409.25% during the same period.
The Closure Decision of Eden Network
Eden Network originated from Archer DAO, which aimed to generate MEV revenue for Ethereum 
$2,287 miners. However, following the implementation of EIP-1559 that narrowed miners’ incomes, the project was rebranded as Eden Network. The network managed thousands of transactions daily through its MEV-protected RPC service. At its height, Eden Network’s partnerships represented over 50% of the Ethereum network’s hashrate.
After transitioning into Eden Network, the organization became a prominent MEV-Boost relay operator, achieving periods of the highest average block rewards. Nonetheless, the rapid saturation of the relay and block-building market, combined with increasing costs, dwindled the competitive landscape to a few players. Despite securing $17.4 million in investments in 2021, the company could not achieve sustainability, leading to its shutdown decision.
Eden Network has announced the immediate shutdown of all its products, including Eden RPC, Eden Bundles, and Mempool Stream. It suggested alternate platforms such as Flashbots Protect and Blocknative for users. The “Coin Retirement” program entails distributing the treasury’s total of 2,000 ETH at a fixed rate of 0.00001506 ETH per EDEN coin to holders residing outside the U.S. Approximately 66,401 EDEN coins equate to 1 ETH. Applications for conversion will be accepted until September 30, 2025.
Upward Trend in EDEN’s Price
Analyzing the technical aspects behind the Altcoin’s price exhibits that the upper band of a long-standing symmetrical triangle pattern on the weekly chart has been tested. According to CoinMarketCap, this latest surge in price pushed the Relative Strength Index (RSI) to 66.42. The MACD has aligned positively, and the histogram has begun to expand. A breakout above the $0.033–$0.035 range with significant volume could bring targets of $0.050 and $0.072 into focus.
Maintaining the EDEN price above $0.072 can open up medium-term prospects to reach $0.10. However, a potential rejection of resistance might increase the risk of a pullback to the $0.022 support level.
