"Suspected Ethena Wallet Transfers 150 Million ENA to Exchanges Over the Past Five Days"
Summary
- It has been reported that a wallet related to the Ethena (ENA) project transferred about 150 million ENA tokens to Binance and Bybit over the past five days.
- Ethena stated that, following the recent announcement of its stablecoin issuance plan based on ENA, large amounts of ENA began to be transferred from the relevant wallet.
- Although Ethena Labs previously announced a six-week ENA buyback plan and clarified that there would be no sales, transfers to exchanges have intensified after the buyback announcement, drawing attention in the market.
A wallet associated with the Ethena (ENA) project has reportedly transferred about 150 million ENA tokens (approximately $77.35 million) to Binance and Bybit over the past five days.
On the 26th, cryptocurrency analyst EmberCN shared via X (formerly Twitter), "Soon after Ethena announced its plan to launch a stablecoin based on ENA on the 21st, large amounts of ENA began to be transferred from a project-related address (starting with 0xB2af)." The most recent transfer appears to have occurred about two hours ago.
Previously, Ethena Labs announced through its subsidiary that it would buy back approximately $260 million worth of ENA from the market over six weeks. At the time, the foundation stated that their priority was accumulation and that there were no planned sales.
Meanwhile, with transfers intensifying after the buyback announcement, some in the market are closely watching the background of these transactions.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
