Institutional Investors Move $29.8 Million in Ethena Tokens to Exchanges

A substantial transfer of 40.217 million Ethena (ENA) tokens, worth $29.8 million, has been recorded from five major institutional wallets to exchanges Binance and Bybit. This activity raises concerns about potential sell pressure impacting ENA’s market liquidity and asset valuation. Analysis suggests these transfers could lead to increased speculation on investor strategies as market dynamics shift.