A whale liquidates 143 million ENA, worth approximately $15.6 million

TechFlow reports that, on November 12, according to Lookonchain monitoring, whale address 0x3C71 transferred all remaining 102 million ENA (approximately $15.6 million) to Coinbase over the past two days, completing the liquidation of its ENA holdings.

On-chain data shows that the whale received 142.92 million ENA from Ethena about two years ago, worth approximately $69.69 million at the time. Lookonchain said the address has now sold all related tokens, with an average selling price of approximately $0.24.

Based on the above average price, the whale's cumulative ENA sales proceeds are estimated at approximately $34.3 million. However, whether all tokens recently transferred to the exchange have been fully executed still requires further confirmation.

Source: TechFlow