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- Whale “0xbba” withdraws $24.44 million value of ENA from Binance in a number of transactions.
- Concurrently, the whale engages in staking actions with Ethena Labs.
- ENA worth stands robust amid the market dip, with over $165 million in tokens staked just lately.
ENA, the just lately launched governance token of decentralized protocol Ethena Labs, continues to achieve the eye of crypto market members, together with probably the most influential buyers within the crypto scene.
Lately, crypto surveillance platform Spot On Chain noticed a whale with pockets initials “0xbba” withdrawing 11.17 million ENA tokens from Binance. Per the disclosure, the transaction occurred in a number of bits inside the final 48 hours. On the time of Spot On Chain’s replace, the whale had withdrawn 11.17 million ENA tokens valued at $15.95 million.
Nevertheless, up to date information present the nameless whale has performed extra transactions. Particularly, the investor has moved out 5,576,000 ENA tokens in two transactions valued at over $8.197 million from Binance.
Successfully, the nameless whale has withdrawn over 16.74 million ENA tokens value $24.44 million at press time from the change. In the meantime, the surveillance platform disclosed that the whale concurrently engaged in staking actions following the withdrawal.
Per the revelation, the pockets has already staked 5.59 million ENA in Ethena Labs. This transfer has elevated the whale to the fourth largest staker inside the ENA ecosystem.
Nevertheless, with the continued withdrawal and the potential of staking the remaining tokens, Spot On Chain recommended that the nameless pockets may ascend to the place of the biggest staker inside the ENA contract.
In the meantime, the whale “0xbba” will not be the one influential investor that has withdrawn ENA tokens from Binance and staked them. In an earlier replace, Spot On Chain noticed one other pockets that transferred over $8.5 million in ENA and staked all of it.
Market tracker Lookonchain has equally uncovered a pockets that exchanged $3.14 in Ethereum tokens for ENA. These heightened transactions round ENA have bolstered the token’s resilience amid the broader dip out there.
Spot On Chain remarked that regardless of the broader market downturn, ENA recorded a exceptional 10% in at some point. The platform added that the surge coincides with ENA tokens value over $165 million staked inside the previous few days.
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