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Home»Crypto»Ethena Whale buys $6 million ENA, Ralling incoming?
Crypto

Ethena Whale buys $6 million ENA, Ralling incoming?

February 26, 2025No Comments2 Mins Read
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  • ENA has the potential to rise by 65% to hit the $0.65 mark if it can maintain the $0.36 level.
  • Traders were heavily leveraged at $0.394 and $0.418, indicating a cautious market sentiment.

Ethena [ENA] is attracting attention from the cryptocurrency community amidst market volatility.

Recently, a new wallet withdrew 14.51 million ENA tokens worth $5.95 million from Binance, hinting at possible accumulation by large investors.

This withdrawal aligns with the “Buy the Dip” strategy, suggesting confidence in the token’s future performance.

$2.10 million in ENA outflow

Apart from the significant withdrawal, long-term holders have been accumulating ENA tokens, as per reports from Coinglass.

Exchanges have experienced an outflow of $2.10 million worth of ENA tokens in the last 24 hours, indicating strong investor interest.

ENA Spot Inflow/Outflow

Source: Coinglass

The increase in whale activity suggests a positive outlook for ENA, with potential for a price surge in the near future.

On-chain analytics show a 1,030% surge in large transactions and a 64% rise in daily active addresses for ENA in the past 24 hours, indicating renewed interest from institutional investors.

Crucial ENA levels

Key liquidation areas for ENA are $0.394 and $0.418, where traders have established over-leveraged positions.

If the price drops to $0.394, approximately $6.26 million in long positions will be liquidated, while a rise to $0.418 could lead to liquidation of $2.44 million in short positions.

ENA Exchange Liquidation Map

Source: Coinglass

Bulls currently seem to have an upper hand in the market, potentially driving a recovery in ENA’s price.

Price analysis and upcoming levels

ENA is trading around $0.41, with a 4.50% increase in the last 24 hours.

At $0.41, ENA faces strong support, historically triggering significant price reversals.

Ethena (ENA) price action

Source: TradingView

If ENA maintains above $0.36, there is a strong chance of a 65% rally to $0.65 in the future.

Next: Bitcoin: How did U.S. market sentiment turn negative? – This report suggests…

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Buys ENA Ethena Incoming million Ralling Whale
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