Summary
- Crypto asset analyst Ali Martinez said 80 million ENA have been deposited to exchanges over the past two weeks.
- He said large deposits to exchanges generally can lead to increased selling pressure and higher short-term volatility.
- He said ENA is currently trading on the Binance USDT market at $0.7227, up 5.31% from 24 hours ago.
A large amount of Ethena (ENA) has been deposited to exchanges.
On the 3rd (local time), crypto asset (cryptocurrency) analyst Ali Martinez said on X (formerly Twitter), "Over the past two weeks, 80 million ENA have been deposited to exchanges."
Typically, large coin deposits to exchanges can lead to increased selling pressure, which can be a cause of increased short-term volatility.
As of 9:20 PM, ENA on the Binance USDT market is trading at $0.7227, up 5.31% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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