On-Chain Alert: Suspected Ethena-Linked Wallet Moves $2.68M AAVE to CEX
On-chain data is flagging a notable move tied to Ethena. According to analyst @OnchainDataNerd, a wallet suspected to be associated with the Ethena team recently withdrew 26,800 AAVE (~$4.03M) before transferring 17,900 AAVE (~$2.68M) to Binance and Bybit.
While no official statement has been made, transfers of this size to centralized exchanges often draw market attention, as they can signal liquidity management, treasury rebalancing, or potential selling pressure. The remaining AAVE was not deposited to exchanges, suggesting the activity may be partial rather than a full exit.
For now, this is a watch-zone event, not a confirmed sell-off. Traders will likely monitor follow-up transactions, exchange order books, and any response from the Ethena team to understand whether this move is operational or market-driven.
As always, context matters more than headlines — but large AAVE flows to CEXs rarely go unnoticed.
