On Oct. 26 at 13:50 (UTC+8), $ENA was trading at $0.2108 on Binance Spot, up about 9.6% over 24 hours after hitting an intraday low of $0.1887. At the same time, $BTC was still hovering around $80,000, down 0.3% over 24 hours. ETH fell about 1%, and most altcoins were also down.
Interestingly, a major investor had just sold it two days earlier. On Oct. 24, BitMEX co-founder Arthur Hayes posted that he had closed all his directional positions, taking profits on ETH, ENA, and UNI. On-chain monitoring platform Lookonchain tracked the sale of about 14 million ENA from an address linked to him, worth roughly $2.76 million, or less than $0.20 per token.
Normally, a high-profile investor exiting a position can sour market sentiment. But ENA has instead gained around 7% over the past two days, and is up more than 10% over the week. ENA is the governance token of Ethena, which primarily issues a synthetic dollar called USDe. Ethena has not announced any new positive developments, and many traders think this looks more like capital rotating between altcoins.
One person selling does not mean the whole market is bearish. Conversely, a rally without any supporting news could fade as quickly as it came. The next thing to watch is whether trading volume can keep up.
#ENA #BTC #行情 This is not investment advice.
Interestingly, a major investor had just sold it two days earlier. On Oct. 24, BitMEX co-founder Arthur Hayes posted that he had closed all his directional positions, taking profits on ETH, ENA, and UNI. On-chain monitoring platform Lookonchain tracked the sale of about 14 million ENA from an address linked to him, worth roughly $2.76 million, or less than $0.20 per token.
Normally, a high-profile investor exiting a position can sour market sentiment. But ENA has instead gained around 7% over the past two days, and is up more than 10% over the week. ENA is the governance token of Ethena, which primarily issues a synthetic dollar called USDe. Ethena has not announced any new positive developments, and many traders think this looks more like capital rotating between altcoins.
One person selling does not mean the whole market is bearish. Conversely, a rally without any supporting news could fade as quickly as it came. The next thing to watch is whether trading volume can keep up.
#ENA #BTC #行情 This is not investment advice.
