According to Onchain data, a large cryptocurrency whale may have recently sold heavily in an altcoin listed on Binance.
Data shows that an account with short wallet address 0x58FD transferred 14.53 million Ethena (ENA) to Bybit minutes ago. The amount in question corresponds to 12.54 million dollars at the time of writing this article.
Balina wallet purchased this amount of ENA tokens from the developer company Ethena Labs on April 1.
Although the whale wallet's transfer of tokens to a central cryptocurrency exchange most likely means sale, it is not possible to determine exactly whether the whale actually sold these tokens.
ENA, one of Binance's Launchpool projects, was recently launched and made a big splash. Ethena has a stablecoin called USDe and is compared to Terra, the $40 billion cryptocurrency ecosystem that went bankrupt due to the high interest income it promised. However, the developers claim that they have no connection with Terra's system.
At the time of writing this article, ENA price has lost 3.78% of its value in the last 24 hours and is traded at $0.87.
*This is not investment advice.
