🏆 Post 262: Whales in Motion (ENA)
🚨 WHALE ALERT! 17.66 Million of $ENA a FalconX transferred 🚨
On-chain Analysis: Data from Arkham, reported by ChainCatcher, reveals that at 06:50 AM, an anonymous address (0x2D4B…) moved a total of 17,660,300 ENA tokens to FalconX. This movement adds to a series of institutional transfers we have seen since December 18, where wallets linked to Ethena Labs also moved millions of tokens.
Why it matters: FalconX is the preferred destination for whales looking to sell large volumes without crashing the price on public exchanges. This transfer of 17.6M of ENA suggests preparation for an OTC sale or a massive liquidity adjustment by an early investor or a strategic partner.
Is this the signal that $ENA will seek new lows this week?
Are we witnessing an institutional capitulation or just a simple profit-taking?