Major Whales Dump ENA Following Market Crash

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by Giorgi Kostiuk

2 years ago

In response to the cryptocurrency market crash, two major whales sold a significant amount of Ethena (ENA) tokens.

Whales' Movement

According to Lookonchain data, the whales first unstaked 3.36 million ENA worth $3.17 million and immediately transferred them to the crypto exchange Binance.

ENA Price Decline

The ENA price lost around 9% in the last 24 hours and is trading at $0.918 at the time of writing. However, the whales were able to partially recover their losses by selling the tokens at $0.948.

Comparison with Other Cryptos

Bitcoin, the world's largest cryptocurrency, lost 3.77% in the last 24 hours and is trading at $95,493. ENA stands out as the 17th altcoin that lost the most value among the top 100 cryptocurrencies, whereas the Curve DAO token fell by 12%.

Despite the panic, the whales' actions helped to partially recover the losses. ENA remains under market pressure, like many other cryptocurrencies.

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