strobefund

Just moments ago, on-chain monitoring detected a noteworthy signal: early investor Strobe Fund has completely liquidated its $ENA position. A total of 142.9 million tokens have been transferred to exchanges or sold, cashing out for approximately $32.95 million.

In April this year, when ENA surged to its all-time high of $1.5, this holding was briefly worth more than $210 million on paper. It then endured a prolonged decline, falling from $1.0 to below $0.5 and eventually reaching a low near $0.2, yet the fund did not sell off a large portion of its holdings.

Recently, the token price rebounded and fluctuated around $0.23. But this “old ally” has chosen to exit completely now. Based on the $32.95 million in proceeds, the average selling price was about $0.23 per token—down roughly 85% from the peak.

The concentrated selling pressure from 140 million tokens has weighed on the market. When an early investor that has been in the project for over a year exits completely, it is often interpreted as a shift in confidence about the project's future growth potential or governance outlook.

Do you think Strobe Fund sold just before the rebound, or do you agree that it was avoiding greater potential risks?
$ENA
#ENA #StrobeFund #Cryptocurrency