Institutional sell-offs are underway: another VC has sold every last token it held.
According to on-chain monitoring, Strobe Ventures transferred its final 50 million tokens $ENA to Coinbase an hour ago. Its initial allocation of 142.9 million ENA has now been completely liquidated, generating approximately $32.95 million in total proceeds at an average selling price of about $0.23. In the past day alone, it transferred around 102 million tokens to exchanges, underscoring just how concentrated the selling pressure is.
It’s worth noting that early institutions like these acquired their holdings at a cost far below the secondary-market price. Their “sell as soon as tokens are allocated” approach is completely different from the experience of ordinary holders. Large transfers from whale addresses to exchanges often signal that near-term selling pressure is building. Rather than blindly trying to call the bottom, retail investors would be better off adding unlock calendars and unusual on-chain fund flows to their regular watchlists.
Institutional investors exiting doesn’t mean a project is going to zero, but the shift of tokens from strong hands to weak hands is usually accompanied by increased volatility. Managing position sizes and avoiding buying into a rally remain the simplest ways to navigate token unlocks.
#Ethena #链上监测 #CryptoMarket
According to on-chain monitoring, Strobe Ventures transferred its final 50 million tokens $ENA to Coinbase an hour ago. Its initial allocation of 142.9 million ENA has now been completely liquidated, generating approximately $32.95 million in total proceeds at an average selling price of about $0.23. In the past day alone, it transferred around 102 million tokens to exchanges, underscoring just how concentrated the selling pressure is.
It’s worth noting that early institutions like these acquired their holdings at a cost far below the secondary-market price. Their “sell as soon as tokens are allocated” approach is completely different from the experience of ordinary holders. Large transfers from whale addresses to exchanges often signal that near-term selling pressure is building. Rather than blindly trying to call the bottom, retail investors would be better off adding unlock calendars and unusual on-chain fund flows to their regular watchlists.
Institutional investors exiting doesn’t mean a project is going to zero, but the shift of tokens from strong hands to weak hands is usually accompanied by increased volatility. Managing position sizes and avoiding buying into a rally remain the simplest ways to navigate token unlocks.
#Ethena #链上监测 #CryptoMarket