Whale Cancels 17.875 Million ENA Stake, Faces $12.09 Million Loss Amid Market Shift

In a noteworthy development, COINOTAG News reported on February 11th that a significant crypto whale has strategically unwound their entire holding of 17.875 million ENA, equivalent to approximately $8.78 million. This transaction was executed roughly 40 minutes ago, with assets moved to Binance. The investor had previously amassed ENA at an average acquisition cost of $1.167. Current market conditions reflect a stark price drop, as ENA is presently trading at $0.491. Should the whale decide to liquidate holdings at this price point, they would face a considerable loss of around $12.09 million, translating to a steep depreciation of 58%. This incident underscores the volatile nature of cryptocurrency markets and the inherent risks associated with high-stakes investments.