The cryptocurrency market continues to be busy with major players. Over the past 24 hours, two different whales or institutional investors have sent a total of 16.38 million ENA tokens ($19.4 million) back to centralized exchanges (CEX).
The first major transfer was made from the address “0xc69”, which belongs to a multisign wallet. This address deposited 10 million ENA ($11.9 million) to By,bit 20 hours ago. After this transaction, it is seen that there is still 124.7 million ENA (about $144 million) left in the wallet. However, it is stated that the majority of this amount is under staking.
Interestingly, this multisign wallet has been known to dump large amounts of tokens in the past, often before the ENA price crashed. It is also alleged that this wallet shares the same By,bit address as Bit,MEX founder Arthur Hayes. This situation has attracted attention in the market.
Galaxy Digital sent ENA to Binance
The second major transaction was made by crypto investment firm Galaxy Digital, which transferred 6.38 million ENA ($7.49 million) to Binance 12 hours ago. This transaction was made when the ENA price was $1,173.
It was revealed that Galaxy Digital withdrew 10.9 million ENA from Binance on December 5, 2024, when the ENA price was at $0.925, and sold those tokens now at a higher price, making a significant profit. The company currently holds 4.45 million ENA ($5.17 million), making a total profit of approximately $2.64 million (+26%).
Stay tuned for new information