Whales Impact ENA Token Prices Significantly – BitRss

Ethena’s ENA token has raised concerns in the cryptocurrency market due to significant whale sales. As of December 26, several whales sold approximately 3.36 million ENA tokens, valued at around 3.17 million dollars, on the Binance exchange. This large-scale sale resulted in a 10% drop in the token’s price, which is currently trading at 0.92 dollars. Consequently, this price movement has heightened investors’ anxiety over potential future price fluctuations.

Whale Sales Influence the Market

According to Lookonchain data, the addresses of the whales selling ENA tokens were identified on Etherscan as 0x886b.. and 0xbB22… These massive sales have shown signs of panic selling in the market. Investors are worried that the price of ENA may decline further following these whale sales.

These actions have fostered an atmosphere of uncertainty in the cryptocurrency market. ENA’s 24-hour price range fluctuated between 0.92 and 1.04 dollars, experiencing a 10% drop in just one day. The overall trend in the crypto market and the behavior of whales…