Two wallets linked to the Ethena project are suspected of exiting their ENA holdings, according to on-chain analyst Ai Yi (@ai_9684xtpa). Since Sept. 3, the two addresses have transferred ENA worth a combined $6.75 million to centralized exchanges. In the past 15 hours alone, the wallets deposited 19 million ENA to Bybit, valued at about $3.29 million. The tokens were reportedly transferred from an Ethena multisig wallet two years ago and had not moved during that period. The latest deposits began after a sharp rise in ENA’s price, the analyst said. The observation was cited by BlockBeats in a Sept. 7 market flash update.
BlockBeats reported on Sept. 7 that two wallets linked to the Ethena project are suspected of fully exiting their ENA positions, according to monitoring by on-chain analyst Ai Yi (@ai_9684xtpa).
Since Sept. 3, the two addresses have moved ENA worth a combined $6.75 million to centralized exchanges.
In the past 15 hours, the wallets deposited 19 million ENA to Bybit, worth about $3.29 million.
The analyst said the tokens held by the two addresses were transferred from an Ethena multisig wallet two years ago and had remained unmoved until now. Bulk deposits started after a sharp jump in the token’s price.
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