According to @OnchainLens, Ethena (@ethena_labs) withdrew 25M ENA valued at approximately $7.05M from Bybit, and the cited wallet 0x631ee55b8ecd7afb53ec30211a082691a4cbe3ae now holds 355.15M ENA valued at about $100.13M, providing concrete on-chain flow data for traders. According to @OnchainLens, the withdrawal represents a 25M-token outflow from Bybit at the time of transfer, with an implied per-token value of roughly $0.282 calculated from the reported figures ($7.05M/25M and $100.13M/355.15M). According to @OnchainLens, the address 0x631ee55b8ecd7afb53ec30211a082691a4cbe3ae is the reference to monitor for any subsequent inflows or redeposits that would update exchange supply conditions for ENA.

According to Onchain Lens, a whale has deposited 13.12 million USDC into HyperLiquid over the past four days to accumulate ENA on the spot market, source: Onchain Lens on X, Nov 29, 2025. Onchain Lens reports the wallet has purchased 25.56 million ENA for 7.25 million USD and still holds 5.78 million USDC with buying activity ongoing, source: Onchain Lens on X and the wallet tracker referenced by Onchain Lens. Based on these reported figures, the implied average purchase price is approximately 0.284 USD per ENA, source: calculation from Onchain Lens reported data.

According to @ai_9684xtpa, wallet 0xdfb0be32c83a32ee705e94fae9c3041bfefaf239 accumulated about $7.16 million worth of ENA over the past 10 hours, totaling 25.26 million ENA at an average purchase price of approximately $0.2845 (source: @ai_9684xtpa X post dated 2025-11-29; trade history dashboard: https://hyperbot.network/trader/0xdfb0be32c83a32ee705e94fae9c3041bfefaf239). Eight hours prior, 6.51 million USDC was deposited into Hyperliquid and then routed to the same wallet, with small residual limit orders still open at the time of reporting (source: @ai_9684xtpa; dashboard: https://hyperbot.network/trader/0xdfb0be32c83a32ee705e94fae9c3041bfefaf239).

According to Lookonchain, an unidentified whale withdrew 13.11M USDC from Binance and Bybit and deposited 6.6M USDC to Hyperliquid before purchasing ENA (source: https://twitter.com/lookonchain/status/1994226085303840778). The whale has spent 5.1M USDC to acquire 17.76M ENA at an average price of $0.2874 so far, indicating large-sized accumulation activity in ENA (source: https://twitter.com/lookonchain/status/1994226085303840778). Wallet and transaction traces are provided via ARKM Intel address 0xd10592a0455447dad3689f5e8e466f519ce7ccd6 and Hypurrscan addresses 0xdfb0be32c83a32ee705e94fae9c3041bfefaf239 and 0x13b3a8d855102b899bc3a319a15532576c04cbeb (source: https://intel.arkm.com/explorer/address/0xd10592a0455447dad3689f5e8e466f519ce7ccd6; https://hypurrscan.io/address/0xdfb0be32c83a32ee705e94fae9c3041bfefaf239; https://hypurrscan.io/address/0x13b3a8d855102b899bc3a319a15532576c04cbeb).

According to @OnchainDataNerd, one hour ago whale address 0xaf3 received 3.4 million ENA (about $953,000) from Wintermute (source: @OnchainDataNerd). Over the past 10 months, the address accumulated a total of 10.59 million ENA (about $6.5 million) at an average entry price of $0.614 (source: @OnchainDataNerd). The position shows an unrealized loss of about $2.97 million with ROI at -45.7% (source: @OnchainDataNerd).

According to @lookonchain, Arthur Hayes bought 4.89M ENA valued at USD 1.37M over the past two days; source: x.com/lookonchain/status/1993971772245606839. He also purchased 436,000 PENDLE worth USD 1.13M and 696,000 ETHFI worth USD 543,000 in the same period; source: x.com/lookonchain/status/1993971772245606839. Based on the reported figures, total buys across ENA, PENDLE, and ETHFI were about USD 3.04M over two days, concentrated in these tokens; source: x.com/lookonchain/status/1993971772245606839.

According to @OnchainLens, Arthur Hayes bought 2,000,000 ENA (about $556,000) and 364,987 ETHFI (about $287,000) from FalconX, source: @OnchainLens; data: Nansen. The reported wallet at address 0x6cd66dbdfe289ab83d7311b668ada83a12447e21 now holds a cumulative 4.89M ENA (about $1.37M) and 696,000 ETHFI (about $543,000), source: @OnchainLens; data: Nansen.

According to @OnchainLens on X https://twitter.com/OnchainLens/status/1993868428315381985, Arthur Hayes received 2.01M ENA valued at 571.6K USD, 218K PENDLE valued at 589.8K USD, and 330.99K ETHFI valued at 257.4K USD from Cumberland within the past 30 minutes, indicating fresh accumulation in these tokens by a known whale address (source: @OnchainLens on X). Based on those reported figures, the combined value of the transfers is approximately 1.42M USD (source: @OnchainLens on X). The receiving wallet address is provided in the cited post for on-chain verification, offering traders a direct handle to track subsequent flows in ENA, PENDLE, and ETHFI (source: @OnchainLens on X).

According to @OnchainLens, citing Nansen data, Arthur Hayes is repurchasing ENA he sold 11 days ago and has bought/received 837,620 ENA worth about $246,770 to wallet 0x6cd66dbdfe289ab83d7311b668ada83a12447e21 from Binance and other addresses (source: @OnchainLens; data: @nansen_ai). @OnchainLens also reports he sold 5,020,000 ENA and received $1.38M about a week ago (source: @OnchainLens; data: @nansen_ai). Based on these figures, the current repurchases equal roughly 16.7% of the prior sale, with implied unit values near $0.295 on the recent buys versus about $0.275 on the earlier sale, leaving a net change since the sale of approximately minus 4.18M ENA (derived from @OnchainLens figures; data: @nansen_ai).

According to Lookonchain, Arthur Hayes bought 873,671 ENA at $0.281 in the past hour, spending about $245,000. Source: Lookonchain on X, Nov 27, 2025. Lookonchain also reports he sold 5.02 million ENA at $0.275 for roughly $1.38 million two weeks ago. Source: Lookonchain on X, Nov 27, 2025. Based on those Lookonchain figures, the new buy price is about 2.2% higher than the earlier sale price, and the buyback size equals roughly 17.4% of the previously sold amount. Source: Lookonchain on X, Nov 27, 2025. For traders, these on-chain prints define near-term reference levels around $0.275 to $0.281 for ENA liquidity mapping and risk placement. Source: Lookonchain on X, Nov 27, 2025.

According to @OnchainDataNerd, 4 hours ago a single address withdrew 25M ENA (about $6.7M) from Bybit, based on their on-chain monitoring post on X (source: @OnchainDataNerd). According to @OnchainDataNerd, the same address has accumulated total withdrawals of 285.51M ENA (about $85.36M) from Bybit and Coinbase over the past three weeks (source: @OnchainDataNerd; wallet reference: ARKM Intel address 0x631eE55b8Ecd7Afb53ec30211a082691a4Cbe3ae). According to @OnchainDataNerd and the ARKM Intel address page, these outflows indicate at least 285.51M ENA now reside off those exchanges at the referenced address, which is directly relevant to exchange-tradable ENA liquidity (sources: @OnchainDataNerd; ARKM Intel).

According to @OnchainLens, a wallet linked to Ethena Labs purchased 25M ENA worth $6.7M from Bybit, based on Nansen data (source: @OnchainLens, @nansen_ai). The wallet now holds 285.15M ENA valued at $76.46M at address 0x631ee55b8ecd7afb53ec30211a082691a4cbe3ae (source: @OnchainLens, @nansen_ai). The transfer reflects a 25M ENA exchange outflow from Bybit recorded by Nansen (source: @OnchainLens, @nansen_ai). The reported figures imply an average price near $0.268 per ENA for the buy, calculated from the amounts cited (source: @OnchainLens).

According to @OnchainLens citing Nansen data, a wallet likely linked to Ethena Labs accumulated 260.15 million ENA over the past two weeks from Bybit and Coinbase Prime. According to @OnchainLens (data: Nansen), the reported acquisition cost totals about 78.66 million USD, implying an average cost basis near 0.302 USD per ENA. According to @OnchainLens (data: Nansen), the current mark-to-market value is roughly 66.55 million USD, reflecting an unrealized loss of about 12.1 million USD or approximately 15.4% versus the stated cost basis. According to @OnchainLens (data: Nansen), the tracked address is 0x631eE55b8Ecd7Afb53ec30211a082691a4Cbe3ae.

According to @OnchainDataNerd, an on-chain whale address withdrew 5.27M ENA (about $1.47M) from Binance roughly 30 minutes ago; source: The Data Nerd tweet on 2025-11-19, https://twitter.com/OnchainDataNerd/status/1990993430311547331. According to @OnchainDataNerd, the same address had earlier received 12.29M ENA (about $3.91M) from Wintermute and subsequently staked all ENA into Ethena; address: https://t.co/JBtCy6wSmy; source: The Data Nerd tweet on 2025-11-19, https://twitter.com/OnchainDataNerd/status/1990993430311547331.

According to @EmberCN, the address 0x6cd66DbdFe289ab83d7311B668ADA83A12447e21 attributed to Arthur Hayes moved additional ETH, ENA, LDO, AAVE, and UNI to FalconX and Cumberland about one hour before the post, citing on-chain labels and activity (source: @EmberCN on X; source: Arkham Intelligence explorer for address 0x6cd66DbdFe289ab83d7311B668ADA83A12447e21). According to @EmberCN, approximately 4.96 million dollars of assets were likely sold OTC across institutional platforms today, including 780 ETH about 2.48 million dollars, 5.024 million ENA about 1.38 million dollars, 640 thousand LDO about 0.48 million dollars, 1,630 AAVE about 0.29 million dollars, 28 thousand UNI about 0.21 million dollars, and 132 thousand ETHFI about 0.12 million dollars (source: @EmberCN on X). Arkham Intelligence shows recent outbound transfers from the cited address to entities labeled FalconX and Cumberland, aligning with the movements described by @EmberCN (source: Arkham Intelligence explorer for address 0x6cd66DbdFe289ab83d7311B668ADA83A12447e21).

According to @OnchainLens, Arthur Hayes transferred 260 ETH (~$820K), 2.4M ENA (~$657K), 640,000 LDO (~$480K), 28,670 UNI (~$211K), and 1,630 AAVE (~$290K) to Cumberland from address 0x6cd66dbdfe289ab83d7311b668ada83a12447e21, with figures based on Nansen on-chain data (source: @OnchainLens; data: @nansen_ai). @OnchainLens characterized the move as likely to sell, citing Nansen as the data source (source: @OnchainLens; data: @nansen_ai). @OnchainLens also noted this was a further tranche of tokens sent to Cumberland (source: @OnchainLens).

According to @lookonchain, Arthur Hayes sold 260 ETH about 820,000 USD, 2.4M ENA about 651,000 USD, 640,000 LDO about 480,000 USD, 1,630 AAVE about 289,000 USD, and 28,670 UNI about 209,000 USD in recent transactions posted on X on Nov 16, 2025, source: @lookonchain. Based on these figures, the combined notional sold is roughly 2.45 million USD, source: @lookonchain. The sales span majors and DeFi tokens including ETH ENA LDO AAVE UNI and were characterized as heavy dumping by the tracker, source: @lookonchain. Traders monitoring whale flows can reference the cited X post for precise sizes and timing of the offloads, source: @lookonchain.

According to @EmberCN, BitMEX co-founder @CryptoHayes moved 520 ETH (~$1.66M), 2.624M ENA (~$0.73M) and 132,000 ETHFI (~$0.12M) about five hours ago to Flowdesk, FalconX and Wintermute, and also sent a 10 LDO test transfer to FalconX about 50 minutes earlier. Source: @EmberCN. The post provides an Arkham Intelligence wallet link and interprets these transfers as potential selling that could pressure ETH, ENA, ETHFI and possibly LDO in the near term, while noting Hayes has recently been vocal about ZEC. Source: @EmberCN.

According to @OnchainDataNerd, Arthur Hayes deposited 520 ETH worth about 1.66 million dollars to FalconX, sent 2.62 million ENA worth about 733 thousand dollars to Binance and Wintermute, and transferred 133 thousand ETHFI to Wintermute about 4 hours ago, source: @OnchainDataNerd on X and intel.arkm.com/explorer/entity/arthur-hayes. These are exchange and market maker destinations, so traders are monitoring potential near term liquidity changes in ENA, ETHFI, and ETH order books following these inflows, source: @OnchainDataNerd on X. No sales were confirmed in the cited post and the transfers indicate movement to counterparties rather than executed disposals at this time, source: @OnchainDataNerd on X and intel.arkm.com/explorer/entity/arthur-hayes. Traders can track the referenced address cluster and watch Binance spot and derivatives depth for ENA and ETH, and Wintermute linked market liquidity for ETHFI for any increase in ask side supply tied to these transfers, source: @OnchainDataNerd on X and intel.arkm.com/explorer/entity/arthur-hayes.

According to Lookonchain, Arthur Hayes appears to have sold 520 ETH worth about $1.66M, 2.62M ENA worth about $733K, and 132,730 ETHFI worth about $124K roughly 4 hours before its post on Nov 16, 2025, with activity referenced via the Arkham Intelligence Arthur Hayes entity page. Source: Lookonchain on X; Arkham Intelligence. Based on the USD figures reported, the combined notional is approximately $2.52M, implying average unit values near $3,192 per ETH, $0.28 per ENA, and $0.93 per ETHFI, with ETH representing roughly 66% of the total value. Source: Lookonchain on X. Traders tracking whale flows can use the Arkham Intelligence entity page to validate address-level movements and timing linked to the same wallet cluster. Source: Arkham Intelligence.