Large investors continue accumulating $ENA despite recent price weakness, with more than 102.1 million ENA (worth approximately $8.49M) withdrawn from centralized exchanges in just a few hours.
Whale Activity:
🔹 60M ENA (~$4.97M) withdrawn from exchanges
🔹 35M ENA (~$2.92M) moved directly into staking
🔹 7.1M ENA (~$600K) accumulated via Binance
These transfers point to a preference for self-custody and staking rather than selling, reducing the liquid supply available on exchanges.
Meanwhile, on-chain data continues to show negative spot netflows, indicating more ENA is leaving exchanges than entering them. While retail demand remains relatively quiet, shrinking exchange balances could ease selling pressure if accumulation continues.
Whale behavior often reflects a longer-term outlook. Will this accumulation be the catalyst for ENA's next move?
⚠️ Not financial advice. Always do your own research and manage your risk.