A wallet linked to an Ethena project team member has moved 14 million ENA tokens to Bybit after two years of inactivity, according to on-chain analyst Ai Yi. The address received the tokens from an Ethena multisig in July 2024, when they were worth $6.89 million at $0.4928 per ENA. Six hours ago, the wallet transferred all tokens to Bybit, leaving a balance of $2.41 million—a loss of $4.48 million from the initial value and over $8.735 million from the peak price. The assets have shrunk by 65%.
BlockBeats News, September 4 – According to on-chain analyst Ai Yi (@ai_9684xtpa), an address associated with an Ethena project team member has apparently liquidated its holdings after two years of dormancy, with assets depreciating by 65%.
The address 0x891…e4041 received 14 million ENA tokens from an Ethena multisig wallet in July 2024, worth $6.89 million at the time, at a price of $0.4928 per token. Six hours ago, the address transferred all tokens to Bybit, leaving only $2.41 million—a loss of $4.48 million from the initial value and a decline of over $8.735 million from the peak price.
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