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EN
Ethena whales move 102M tokens off exchanges: Is ENA’s sell pressure fading?
['Erastus Chami', 'Written By', 'Reviewed By', 'Benjamin Njiri', 'Ishika Kumari', 'Gladys Makena', 'Muriuki Lazaro']
AMBCrypto
Whale accumulation continued reinforcing confidence in ENA despite its recent price weakness, as more than 102.1 million ENA worth roughly $8.49 million left centralized exchanges within hours.
The latest buying activity involved 60 million ENA valued at $4.97 million, another 35 million ENA worth $2.92 million that immediately entered staking, and an additional 7.108 million ENA valued at $600.7K purchased through Binance.
As a result, whales reduced the liquid supply available for trading, while their actions suggested stronger long-term conviction than recent price performance indicated.
If buyers continue absorbing available supply, those conditions could gradually improve ENA’s broader market structure over the coming sessions.
A strong rebound from channel support could place $0.0900 back within reach and reopen the path toward the upper channel boundary.