📉 Why $ENA Price Dropped – Short Post
Token Supply Increase (Unlocks) – Large scheduled unlocks have released many ENA tokens into the market, causing selling pressure as traders expect more supply and sell instead of holding. �
CoinCentral +1
Whale Activity & Sell-offs – Big holders (whales) moving or depositing millions of ENA into exchanges has triggered more selling and liquidation concerns, pushing price down. �
HTX
Market Conditions – The overall crypto market is in a bearish phase with risk-off sentiment, so altcoins like ENA are hit harder when Bitcoin dominance rises. �
CoinMarketCap
Technical Weakness – ENA is trading under key support and moving averages, indicating ongoing downtrend momentum. �
CoinMarketCap
Fundamental Issues – ENA’s value isn’t growing as fast as the underlying protocol’s stablecoin (USDe), causing limited demand relative to supply.
