Lookonchain
A whale deposited 30 million ENA, valued at $6.98 million, into Binance through BitGo after more than a year of inactivity. The whale still holds 157.55 million ENA, valued at $36.74 million.
Why it matters
Moving ENA to an exchange makes the deposited tokens available for trading. The whale's long inactivity and the size of the transfer make the deposit notable, but it does not establish an intent to sell.
Market impact
The deposit creates potential selling pressure for ENA if the whale sells. The remaining 157.55 million ENA position is substantially larger than the amount transferred, so any further movement from that holding would also matter to traders.
Frequently asked questions
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How long had the ENA whale been inactive?
The whale had been inactive for more than a year before making the deposit.
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How did the ENA reach Binance?
The whale deposited 30 million ENA into Binance through BitGo.
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How much ENA does the whale still hold?
The whale still holds 157.55 million ENA, valued at $36.74 million.
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Does the Binance deposit mean the whale sold ENA?
No. The deposit makes the transferred ENA available for trading, but it does not establish that a sale occurred.
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Why could the transfer matter for ENA traders?
The 30 million ENA deposit creates potential selling pressure if the whale sells. The whale's remaining holding is substantially larger than the amount transferred.
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