ENA Plunges: Fears of Sell-Off Spark Concerns in the Cryptocurrency Market

A dramatic 10% price drop for Ethena (ENA), an altcoin backed by Donald Trump’s World Liberty, has sparked concerns within the cryptocurrency market. The decline is attributed to significant movements of coins onto trading exchanges like Binance, struggles to break through technical resistance levels, and a broader downturn in the crypto sector. Large investors have been selling off their ENA holdings for some time, while smaller investors have been buying, creating a dynamic that may accelerate this price drop.