Strobe Fund: Sends 51.95M ENA to Coinbase

Strobe Fund, the BlockTower Capital spin-off and early Ethena backer, moved 51.95 million ENA tokens worth $8.05 million into Coinbase three hours ago.

The VC received its 142.9 million ENA allocation two years ago and has already sold roughly 93 million tokens for a $25.41 million realized profit while retaining 50 million ENA currently valued near $83.94 million.

Price action on the 4h chart shows ENA trading inside the Bollinger Bands at $0.15 with the upper band resistance at $0.17 and lower support at $0.14; the EMA50 at $0.17 and EMA200 at $0.19 continue to cap upside while RSI at 37.82 remains neutral and MACD registers a bullish golden cross, suggesting any test of the upper band could trigger a quick retracement toward the EMA50 before the next directional move.