On-chain analyst @ai_9684xtpa reported via X that an address estimated to belong to the Ethena (ENA) project deposited all 14 million ENA it had held for approximately two years to Bybit 6 hours ago. Deposits to exchanges are typically interpreted as being for selling purposes. The address received ENA worth $6.89 million at the time from an Ethena multisig address in July 2024. Its current value is approximately $2.41 million, a decrease of $4.48 million (about 65%) compared to when it was received.
