Crypto Whale Massively Accumulates Ethena (ENA) Tokens from Binance in Multiple Transactions

The cryptocurrency world witnessed a significant accumulation of the Ethena (ENA) token, with a crypto whale believed to be linked to Amber Group making substantial withdrawals from Binance. This series of transactions has sparked speculation and interest among market observers.

Amber Group’s Alleged Involvement

According to blockchain data from Spotonchain, a wallet address speculated to belong to Amber Group, a top crypto firm, has been actively withdrawing ENA tokens from Binance. In the latest development, the wallet further withdrew 4.61 million ENA tokens, worth approximately $4.22 million at the time, from the exchange.

This withdrawal was facilitated through a single transaction, with the tokens being transferred at an average price of $0.916 per ENA. Interestingly, the same wallet had previously withdrawn 499,980 ENA tokens, valued at around $445,000, from Binance at $0.89 per token, marking its first known withdrawal of this particular asset.

Massive ENA Accumulation

Consequently, the wallet now holds a total of 5.11 million ENA tokens, worth an estimated $4.67 million. This substantial accumulation of ENA tokens has raised eyebrows within the crypto community, fueling speculation about the potential reasons behind these moves.

Notably, the ENA token has experienced a remarkable price surge in the past 24 hours, with its value increasing by 59.43%. According to the latest data from CoinGecko, the price of Ethena (ENA) currently stands at $1.03, representing a 48.50% increase over the previous day.

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Crypto Whale’s Potential Impact

This crypto whale, reportedly linked to Amber Group, has accumulated a massive amount of ENA tokens, potentially exerting significant influence on the token’s market dynamics. Such substantial investments from major players can often shape market sentiment and drive further price movements.

It is worth noting that while the identity of the whale remains unconfirmed, the transactions and wallet addresses suggest a potential connection to Amber Group, a well-established player in the crypto industry. However, further verification and confirmation from the involved parties are necessary to ascertain the accuracy of these speculations.

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Samuel Munene
Samuel Munene

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