Those Who Will Take a Position on Binance Supported Altcoin Should Follow These Whales!
Altcoin whales started to take action in ENA, the cryptocurrency of Binance-backed Ethena Labs.
According to TradingView data, ENA gained more than 12% in value in the last week, rising to $0.89.
ENA is the cryptocurrency of Ethena Labs, the issuer of USDe, which is called the “synthetic dollar”. Binance introduced Ethena Labs as its 50th Launchpool project at the end of March.
According to blockchain analysis platform Spot On Chain, two altcoin whales deposited 17.33 million ENA into the Bybit exchange as of night hours.
In the statement made this week, it was learned that Bybit will integrate USDe into its platform.
These whales received a total of 24.52 million ENA from Ethena Labs wallets on April 1-2. One of them still has 7.18 million ENA in his wallet. The Spot On Chain team commented:
“However, this may not mean an immediate sell-off as the ENA price has been rising for several hours. If you are interested in ENA, be careful with your long/short positions!”
Shares are for informational purposes only and are not investment advice.
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