After more than a year of inactivity, the whale at address 0xa554 and $ENA moved again. This time, through #BitGo , it sold 37.725 million tokens, worth about 9.25 million US dollars.
It still holds 119.82 million $ENA , worth about 29.6 million US dollars at the original valuation. This remaining position is even larger than what was sold this time.
The key point is continuity: this sale happened 12 hours ago, and the address had previously made a deposit into an exchange. The sell-pressure signal is not just a single isolated event.
In terms of interpretation, the whale is gradually distributing its holdings, not changing the story; as long as the remaining position is not fully unwound, there is a clear overhang of sell pressure above $ENA .
The original text did not provide price levels or further intentions. What can be confirmed is that the reduction is still ongoing, rather than having been sold all at once.
It still holds 119.82 million $ENA , worth about 29.6 million US dollars at the original valuation. This remaining position is even larger than what was sold this time.
The key point is continuity: this sale happened 12 hours ago, and the address had previously made a deposit into an exchange. The sell-pressure signal is not just a single isolated event.
In terms of interpretation, the whale is gradually distributing its holdings, not changing the story; as long as the remaining position is not fully unwound, there is a clear overhang of sell pressure above $ENA .
The original text did not provide price levels or further intentions. What can be confirmed is that the reduction is still ongoing, rather than having been sold all at once.
