$ENA Ethena Withdraws Another 25 Million ENA From CEX, Holdings Top $200 Million

Ethena has executed a notable net withdrawal today. Approximately 25 million ENA tokens valued at $7.05 million were withdrawn from a major centralized exchange to private storage wallets.

🔸 This move brings the total ENA holdings of this wallet to an impressive figure 779.9 million tokens, with an estimated total market value of around $207.7 million.

🔸 Withdrawing large amounts of tokens from exchanges is often interpreted as a signal of reducing floating supply sell pressure. This accumulation suggests the team or related parties are planning for longterm holding or preparing for upcoming governance or staking activities.

Do you view this multi hundred million dollar withdrawal as a bullish accumulation signal or just routine treasury management?

News is for reference, not investment advice. Please read carefully before making a decision.