According to reports, Ethena team wallets recently sold approximately $3.45 million worth of $ENA tokens, after transferring nearly 400 million tokens to a proxy contract. DeFiLlama data shows that on October 8, the protocol recorded a net outflow of approximately $104 million in a single day, its highest level since July, as funds continue to leave. As a result, $ENA fell approximately 6.6% that day to around $0.22, dropping below its 20-day moving average. Short-term indicators have weakened noticeably, and the market is testing support at $0.20.

#ENA #DeFi
(Source: X)
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