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As the token price rebounds, addresses linked to the Ethena project team have accelerated selling, transferring a total of $6.75 million in ENA to centralized exchanges (CEX) over the past four days.

2 hours ago

On-chain analyst Ai Yi (@ai_9684xtpa) has monitored that two addresses linked to the Ethena project are suspected of liquidating their holdings. Since September 3, they have transferred a total of $6.75 million worth of ENA tokens to centralized exchanges (CEXs). The two addresses deposited 19 million ENA tokens (valued at approximately $3.29 million) into Bybit over the past 15 hours. The tokens held by these addresses were all transferred from Ethena’s multi-signature address two years ago and had not been moved in the interim. They began bulk depositing after the recent sharp rally in ENA’s price.

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