The crypto whale invested $3.7 million in the altcoin project that has been talked about a lot in recent days.
According to information provided by on-chain analytics platform Lookonchain, a newly created wallet purchased 3.29 million Ethena (ENA) worth approximately $3.78 million from the Binance exchange on approximately December 17.
Recently, both wallets connected to the Trump family and famous investor Arthur Hayes invested in Ethena, further increasing the interest in this project.
Such large-scale withdrawals are usually closely monitored by investors and analysts. Especially large amounts of money being moved from centralized exchanges to cold wallets may signal long-term holding intentions and are interpreted as a sign of potential price movement in the market.
Considering the recent performance of the ENA token, this pull could have a significant impact on the market. Investors continue to closely monitor how such large transfers will affect the market price.
According to CoinGecko data, ENA, which has lost 2% in value in the last 24 hours, is trading at $1.16 at the time of writing.
Stay tuned