As of December 20, Onchain Lens records a notable move by Ethena Labs, with a deposit of 18.36 million ENA into Bybit, valued at about $3.75 million. The action highlights ENA token liquidity management and cross-exchange activity in the evolving ENA ecosystem.

Two years earlier, Ethena Labs withdrew 34.65 million ENA from Gate (roughly $28.25 million at the time) and earned an additional 3.38 million ENA ($1.32 million) as a staking reward, underscoring historical yield channels within the ENA stack.

Current holdings show 20.118 million ENA remaining in the ENA liquidity pool, around $4.23 million, reflecting ongoing reserve and liquidity strategies in the ENA market.