Ethena Labs Wallet Withdraws 25 Million ENA, Bringing Total ENA Withdrawn to 405.15 Million From Bybit and Coinbase Prime

COINOTAG News, on December 2, citing LookIntoChain monitoring, reported that a suspected Ethena Labs address moved 25 million ENA (roughly USD 6 million) out of Bybit three hours earlier. The transfer adds to a sequence of outbound activity from this wallet, with movements tracked by industry data providers and security researchers.

Since November 7, the same wallet has withdrawn a cumulative 405.15 million ENA (about USD 96.8 million) from Bybit and Coinbase Prime. Market observers emphasize the importance of source provenance and exchange-level data in evaluating potential market impact, while avoiding speculation about intent or future actions.