In a dramatic turn of events, a prominent trader faced a staggering loss of $13 million due to a massive drop in $ENA.

Key Highlights:

- Biggest stakers get hit hard: The largest staker of governance token#Ethena(ENA) sold the majority of his holdings at a huge loss.

- Massive withdrawal: This user withdrew all $23 million of ENA from staking, which was originally purchased for $30 million. However, a drop in the token price brought the value of the asset down to just $17 million.

Influence:

- Shocking losses: The trader’s decision resulted in a $13 million loss, highlighting the volatility and risks of the cryptocurrency market.

- Market reaction: The move shocked the Ethena community and highlighted the potential dangers even for experienced investors.

go ahead:

This incident serves as a reminder of the risks involved in cryptocurrency investing. As the market continues to evolve, strategic planning and risk management remain important for all traders.

Stay informed, be prepared, and ride the crypto wave carefully!

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