According to Lookonchain, over the past 20 hours, six wallets collectively deposited 95.36 million ENA tokens (valued at $28.4 million) into Binance after receiving funds from the Ethena Proxy wallet. This sizable inflow signals a potential increase in ENA liquidity on Binance, which could heighten near-term selling pressure and volatility for ENA traders. Such large-scale movements, especially when routed through a proxy, often precede significant price action, making this a crucial watchpoint for both short-term and swing traders monitoring ENA and related DeFi tokens. (Source: Lookonchain via Twitter, June 7, 2025)