Ethena (ENA), the token of the ETHena Finance project with its synthetic stablecoin USDe, dropped more than 5% in value on Monday. On-chain information tracking tools have detected the activities of large wallet investors in ENA, these "whales" are having opposing views on Ethena, unstaking, cutting losses, or staking to earn money. reward.
Whales have a contrasting stance on ETH
Data from on-chain tracker Lookonchain shows that a whale has surrendered due to the continued decline in ENA price. A large investor unstaked all of ENA and sold the asset, suffering a loss of 2.71 million USD.
Whales withdrew over 6 million ENA worth $5.71 million from the Binance exchange at $0.95 on April 5, to stake and earn rewards. As ENA prices soared, whales withdrew more ENA, worth $4.76 million, on April 10. However, by April 25, within 15 days of withdrawing assets from the above wallet exchanges, whales surrendered and cut their losses.
This investor deposited a total of 8.33 million ENA tokens into Binance and suffered a loss of 2.71 million USD, at an average price of 0.83 USD.
Another whale took the opposite stance and withdrew 4.80 million ENA tokens worth $3.94 million from Binance at an average price of $0.82. Large wallet investors staked ENA on Pendle Finance to earn rewards.
As two whales have opposing views on ENA, one cutting losses and the other betting on the token, it remains unclear where the assets will go, based on the online activity of major wallet investors .
ENA is trading at $0.784, down 5% in the past 24 hours.
Source: https://tapchibitcoin.io/ethena-ena-giam-5-dragon-day-khi-ca-voi-chap-nhan-cat-lo.html