A multi-signature (multi-sig) pockets linked to Ethena, which had not made any transactions for about 400 days, confirmed important exercise yesterday.
In accordance with on-chain information, 15 million ENA tokens have been despatched from the pockets to the cryptocurrency change Binance. The switch had a market worth of roughly $9.64 million.
The pockets’s total steadiness is hanging: 360 million ENA tokens, or roughly $237.6 million, are nonetheless held at this tackle. The transaction was carried out on the Ethereum community, and solely very small ETH actions had been noticed lately.
This transfer, coming after an extended interval of inactivity, has sparked hypothesis throughout the neighborhood, with some suggesting that builders need to capitalize on the current surge in ENA’s value.
ENA, one of many standard altcoins of current months, is buying and selling 56% decrease than its all-time excessive value report of $1.52, set a yr in the past.
There are claims that Ethena may very well be the brand new TerraUSD of the market as a result of it guarantees excessive stablecoin returns, however within the occasion of its collapse, it could not have the same affect to the roughly $90 billion Terra ecosystem.
*This isn’t funding recommendation.
