An address linked to the Ethena project team, which has lain dormant for two years, is suspected of liquidating 14 million ENA tokens.
1 hours ago
On-chain analyst Ai Yi (@ai_9684xtpa) has monitored that an address linked to the Ethena project, which had been dormant for two years, appears to have liquidated its holdings, with its assets now down 65%. The address 0x891…e4041 received 14 million ENA tokens from Ethena’s multi-sig wallet in July 2024, worth $6.89 million at the time (at a token price of $0.4928). Six hours ago, the address transferred all its tokens to Bybit, leaving holdings valued at $2.41 million — a $4.48 million decrease from the receipt time, and over $8.735 million down from the peak value.
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