【VC sell-off complete—the overhanging supply finally cleared?】
On-chain monitoring shows that crypto institution Strobe Ventures has sold all 142.9 million ENA it received. An hour ago, the final 50 million tokens (worth approximately $7.54 million) were transferred to Coinbase, completing the sell-off.
Key figures:
· 101.95 million tokens, worth approximately $15.6 million, transferred to Coinbase in a single day
· Approximately $32.95 million in total proceeds
· Average selling price of approximately $0.23
After receiving their allocations, early investors often send large amounts to exchanges during unlock windows. This kind of selling pressure is often a major reason tokens weaken temporarily. But there’s another side to the story: with this VC’s holdings now cleared, the market has one fewer source of persistent potential selling pressure. Going forward, prices will be driven more by the fundamentals of the Ethena ecosystem and the balance of new capital flows.
For everyday holders, rather than fixating on short-term candlestick charts, it’s worth keeping an eye on large on-chain transfers and institutional unlock schedules. Changes in token distribution often signal what’s happening before technical indicators do.
$ENA #Ethena #On-chainMonitoring
On-chain monitoring shows that crypto institution Strobe Ventures has sold all 142.9 million ENA it received. An hour ago, the final 50 million tokens (worth approximately $7.54 million) were transferred to Coinbase, completing the sell-off.
Key figures:
· 101.95 million tokens, worth approximately $15.6 million, transferred to Coinbase in a single day
· Approximately $32.95 million in total proceeds
· Average selling price of approximately $0.23
After receiving their allocations, early investors often send large amounts to exchanges during unlock windows. This kind of selling pressure is often a major reason tokens weaken temporarily. But there’s another side to the story: with this VC’s holdings now cleared, the market has one fewer source of persistent potential selling pressure. Going forward, prices will be driven more by the fundamentals of the Ethena ecosystem and the balance of new capital flows.
For everyday holders, rather than fixating on short-term candlestick charts, it’s worth keeping an eye on large on-chain transfers and institutional unlock schedules. Changes in token distribution often signal what’s happening before technical indicators do.
$ENA #Ethena #On-chainMonitoring