Ethena Team Moves 38.36 Million ENA to Binance Amid Significant Wallet Activity

In a significant market move, three wallets linked to the Ethena team have executed a transfer of 38.36 million ENA, valued at approximately $14.4 million, to Binance within the last hour, as reported by COINOTAG News on March 5th. Analysis from LookIntoChain indicates that two of the wallets involved previously received the ENA tokens from Ethena Labs’ multi-signature wallet back on July 20, 2024, when the asset was trading at $0.487. At this moment, one of the wallets retains an impressive balance of 53.6 million ENA, equivalent to around $20.2 million. These transactions underscore the potent liquidity strategies within the cryptocurrency ecosystem and highlight the prudent asset management by the Ethena team amidst evolving market conditions.