Ethena: Deposits 128.6M ENA to Binance
@EmberCN reported that Ethena sent 128.6 million ENA worth $24.33 million to Binance in the past two hours, possibly to cover part of the 217.5 million ENA stolen from the exchange yesterday as Binance rebuilds reserves via OTC purchases.
SourceAnalysis
Ethena transferred 128.6 million $ENA valued at $24.33 million to Binance over the last two hours, according to on-chain data shared by @EmberCN. Binance yesterday lost 217.5 million ENA in a theft and is now repurchasing tokens OTC to restore proof-of-reserves balances.
The move aligns with Binance sourcing supply directly from the issuer to plug the shortfall without immediate market impact.
Price action on the four-hour chart shows ENA at $0.19 inside the Bollinger Bands, with the upper band at $0.22 acting as near-term resistance and the lower band at $0.18 as support. Both the EMA50 and EMA200 sit at $0.20, forming a clear resistance zone that has capped rallies for months. The MACD remains in death-cross territory while RSI at 44.1 offers no momentum relief, so any bounce into the $0.20-$0.22 confluence is likely to meet selling before the next leg lower toward the $0.18 band.
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@EmberCNAnalyst about On-chain Analysis