Developers Move Large ENA Holdings to Binance: Speculation Grows

A prominent multi-signature (multi-sig) wallet, linked to Ethena, has become highly active, transferring 15 million ENA tokens to the cryptocurrency exchange Binance. The move carries a market value of approximately $9.64 million and highlights significant activity from this inactive address for over four years. This transfer took place on the Ethereum network, with minimal ETH movements noted recently. The wallet’s overall balance currently stands at 360 million ENA tokens worth about $237.6 million. 15 Million ENA Tokens Transfer to Binance: Speculation Surrounding Developer’s Move. 56% lower than its all-time high of $1.52, Ethena (ENA) remains a popular altcoin in the market but is facing scrutiny. Some are raising concerns that Ethena may follow a similar path as TerraUSD with promises of stablecoin returns, potentially leading to a substantial market downturn.