A substantial withdrawal of 125.35 million ENA tokens, worth approximately $33.3 million, has been recorded by Ethena Labs-linked addresses from major exchanges like Coinbase Prime and Bybit. This move is generating significant buzz within the crypto community and prompting speculation about the project’s future strategy. Analysts are attributing this action to long-term confidence in ENA’s potential for growth. The withdrawal, which reduces immediate selling pressure by removing tokens from active trading platforms, offers insights into the entities behind these addresses, highlighting their commitment to the project’s ecosystem and its wider impact on the crypto market.