According to @OnchainLens, Ethena Labs deposited 18.36M ENA worth 3.75M dollars to Bybit, marking a significant on-chain exchange inflow for ENA, source: @OnchainLens, Dec 20, 2025. According to @OnchainLens, two years ago the entity withdrew 34.65M ENA worth 28.25M dollars from Gate and received 3.38M ENA worth 1.32M dollars as staking rewards, source: @OnchainLens, Dec 20, 2025. According to @OnchainLens, Ethena Labs still holds 20.118M ENA worth 4.23M dollars in a liquidity pool, outlining the current split between exchange-held and LP-held ENA as reported, source: @OnchainLens, Dec 20, 2025.

According to @OnchainLens, Ethena Labs transferred 23.3M ENA worth about $4.74M to FalconX roughly 9 hours ago, citing Nansen data. According to @OnchainLens, the originating wallet still holds 123.4M ENA valued near $25M at address 0xf0465df588906d820f831970262bdcca0f2b3e2d, based on Nansen data. According to @OnchainLens, the transfer was described as likely to sell, as reported with Nansen data.

According to @Celo, Rene joined representatives from Ethena Labs, Hashed, 1inch, and CypherCapital, moderated by Bonnie Chang, to discuss how Celo is bringing traditional markets onchain, including FX trading, via local digital currencies. Source: Celo (X, Dec 11, 2025). The post indicates Celo’s active focus on onchain FX market structure within its ecosystem, a narrative relevant for traders tracking CELO and liquidity across DeFi routing venues. Source: Celo (X, Dec 11, 2025). No specific product launches, timelines, or quantitative metrics were disclosed in the announcement. Source: Celo (X, Dec 11, 2025). For positioning, traders can monitor official updates for potential integrations or liquidity programs that could impact CELO pairs and onchain FX routes on Celo. Source: Celo (X, Dec 11, 2025).

According to Lookonchain, wallet 0x631e, labeled as linked to Ethena Labs, withdrew 25M ENA (about $6M) from Bybit approximately three hours ago, source: Lookonchain on X dated Dec 2, 2025. According to Lookonchain, cumulative withdrawals by this wallet have reached 405.15M ENA (about $96.8M) from Bybit and Coinbase Prime since Nov 7, source: Lookonchain on X dated Dec 2, 2025. According to Arkham Intelligence, the address 0x631eE55b8Ecd7Afb53ec30211a082691a4Cbe3ae and its recent exchange outflows can be verified on the Arkham Intelligence address explorer, source: Arkham Intelligence.

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 @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.