🚨 ETHENA IS MOVING — $ENA OFF EXCHANGES 👀🚀
A major wallet flow just caught attention.
Over the past 24 hours, approximately 117.58M ENA was withdrawn from Bybit and transferred to an Ethena-linked Gnosis Safe.
The wallet now holds roughly $69M worth of $ENA, including staked tokens. 👀
And the timing is interesting.
Standard Chartered recently initiated coverage on $ENA with a $2 target by the end of 2028, based partly on its expectation that USDe could reach $40B. 📈
At $25B USDe supply, Ethena estimates the buyback mechanism could potentially generate around $375M in annual $ENA buybacks under its assumptions. 🔥
Exchange outflows + growing fundamentals = definitely a flow worth watching. 👀
#ENA #Crypto #AltcoinSeason
A major wallet flow just caught attention.
Over the past 24 hours, approximately 117.58M ENA was withdrawn from Bybit and transferred to an Ethena-linked Gnosis Safe.
The wallet now holds roughly $69M worth of $ENA, including staked tokens. 👀
And the timing is interesting.
Standard Chartered recently initiated coverage on $ENA with a $2 target by the end of 2028, based partly on its expectation that USDe could reach $40B. 📈
At $25B USDe supply, Ethena estimates the buyback mechanism could potentially generate around $375M in annual $ENA buybacks under its assumptions. 🔥
Exchange outflows + growing fundamentals = definitely a flow worth watching. 👀
#ENA #Crypto #AltcoinSeason
