Ethena: Wallets Move $6.75M ENA to Exchanges

Ethena project-linked wallets transferred another 19 million ENA tokens valued at $3.29 million to Bybit over the past 15 hours, pushing cumulative exchange deposits to $6.75 million since September 3.

The two addresses, dormant for two years after receiving tokens from the Ethena multisig, began batch deposits only after the recent price surge, mirroring earlier movements that saw one wallet realize a 65% loss from its 2024 peak valuation.

Price action on the 4-hour chart shows ENA holding a bullish structure above the EMA50 at $0.16 and EMA200 at $0.13 while the MACD registers a golden cross at zero; with the token trading inside the Bollinger Bands and testing upper resistance at $0.18 against neutral RSI at 56.12, any extension higher likely pauses for a measured pullback toward the $0.16 EMA50 support before continuation.