Lookonchain
A whale identified as 0x3C71 deposited its remaining 102 million ENA, valued at $15.6 million, into Coinbase over the past two days. The wallet has now sold its entire allocation at an average price of $0.24.
Why it matters
The whale received 142.92 million ENA from Ethena two years ago, when the allocation was valued at $69.69 million. Its latest deposit accounts for the bulk of that original allocation.
Market impact
Large exchange deposits can signal potential selling pressure because tokens held on a trading platform are available to sell. The stated average sale price covers the full allocation; it does not establish the execution price of the final 102 million ENA.
Frequently asked questions
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How much ENA did the whale deposit into Coinbase?
The wallet deposited 102 million ENA, valued at $15.6 million, over the past two days.
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How large was the whale's original ENA allocation?
The whale received 142.92 million ENA from Ethena two years ago, valued at $69.69 million at the time.
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What was the average sale price for the whale's ENA allocation?
The whale sold its full allocation at an average price of $0.24 per ENA.
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Why do large ENA deposits to an exchange matter?
Tokens deposited on an exchange are available to trade, so a large transfer can signal potential selling pressure.
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Was the final 102 million ENA sold at $0.24 each?
The $0.24 figure is the average sale price for the full allocation. It does not establish the execution price of the final 102 million ENA.
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