Sold out, then it rose.
November 11, 22:57 (UTC+8) — On-chain analyst Ember observed that crypto venture capital firm Strobe Ventures transferred its last 50 million ENA (worth approximately $7.54 million) to Coinbase about an hour ago. According to Ember’s data, the firm has now sold all 142.9 million ENA it received through an investment two years ago, for a total of approximately $32.95 million, at an average price of about $0.23 per token.
The selling took place in two stages: first, 51.95 million tokens (worth approximately $8.05 million) were transferred on the morning of November 10, leaving 50 million in the address. The remaining tokens were transferred all at once on the evening of November 11, bringing the total to approximately 101.95 million.
What’s interesting is the market reaction. On Binance spot, the November 11 daily candle (UTC+8) for $ENA 11 opened at $0.1494, hit a low of $0.1467, and closed at $0.1544—up about 3.3% on the day. Zooming out, ENA has fallen steadily from around $0.194 on November 1, losing roughly 20% so far this month.
In other words, the institution’s average selling price of about $0.23 was well above the current price, and by the time news of the “last batch” emerged, the price had already fallen once. Also, transferring tokens to an exchange is not necessarily the same as actually selling them, so the two should be viewed separately.
The institution has cleared out its ENA holdings, removing one potential overhang. What happens next will depend on Ethena’s products and the broader market.
#ENA #加密货币 #行情 This is not investment advice.
November 11, 22:57 (UTC+8) — On-chain analyst Ember observed that crypto venture capital firm Strobe Ventures transferred its last 50 million ENA (worth approximately $7.54 million) to Coinbase about an hour ago. According to Ember’s data, the firm has now sold all 142.9 million ENA it received through an investment two years ago, for a total of approximately $32.95 million, at an average price of about $0.23 per token.
The selling took place in two stages: first, 51.95 million tokens (worth approximately $8.05 million) were transferred on the morning of November 10, leaving 50 million in the address. The remaining tokens were transferred all at once on the evening of November 11, bringing the total to approximately 101.95 million.
What’s interesting is the market reaction. On Binance spot, the November 11 daily candle (UTC+8) for $ENA 11 opened at $0.1494, hit a low of $0.1467, and closed at $0.1544—up about 3.3% on the day. Zooming out, ENA has fallen steadily from around $0.194 on November 1, losing roughly 20% so far this month.
In other words, the institution’s average selling price of about $0.23 was well above the current price, and by the time news of the “last batch” emerged, the price had already fallen once. Also, transferring tokens to an exchange is not necessarily the same as actually selling them, so the two should be viewed separately.
The institution has cleared out its ENA holdings, removing one potential overhang. What happens next will depend on Ethena’s products and the broader market.
#ENA #加密货币 #行情 This is not investment advice.
