According to @ai_9684xtpa, Ethena moved 3.125 million ENA to a Binance deposit address roughly 20 minutes prior, worth about $2.27 million, with the purpose unspecified; source: @ai_9684xtpa on X and the referenced Arkham address 0x54B8c65f0635fD91C8729Dd3269C630d9AED54e5 (intel.arkm.com/explorer/address/0x54B8c65f0635fD91C8729Dd3269C630d9AED54e5). According to @ai_9684xtpa, the same address last sent tokens to an exchange one month ago, during which ENA appreciated 17.5%; source: @ai_9684xtpa on X.

According to @lookonchain, Arthur Hayes spent 1.02M USDC to purchase 1.34M ENA over the past 8 hours, implying an average fill price of about $0.76 per ENA based on the reported quantities (source: Lookonchain on X, Sep 9, 2025). According to @lookonchain, his wallet now holds 4.45M ENA after this additional buy, reflecting repeat buying activity in a short window that traders may track for liquidity and flow analysis (source: Lookonchain on X, Sep 9, 2025).

According to @secondswap_io, ENA is up about 6% in the past 24 hours, testing the 0.70 resistance level with daily trading volume above 500 million USD. According to @secondswap_io, the market capitalization is approximately 4.5 billion USD. According to @secondswap_io, a token unlock lifts circulating supply from roughly 42% of the 15 billion total, so elevated volatility is expected.

According to @adriannewman21, investing in the ENA treasury shell token is currently attractive for short-term gains, primarily due to its unique association with stablecoins, which provides a differentiating narrative in the crypto space. However, the source warns that in the mid to long term, these treasury shell structures may negatively impact the market, especially if callable bonds (CBs) are exercised during a bear market. Traders should monitor ENA price action closely and consider the inherent risks in treasury shell tokens, particularly in volatile market conditions. Source: @adriannewman21

According to Lookonchain, whale address 0x41Fc deposited 17 million ENA, valued at $5.41 million, into Binance, Bybit, and Gateio via Flowdesk approximately 40 minutes ago (source: Lookonchain, intel.arkm.com). This large-scale deposit indicates potential increased sell-side liquidity and may signal pending price volatility for ENA. Traders should closely monitor ENA order books on these exchanges for significant shifts in trading volume and price action, as whale activity often leads to short-term market moves.