4.8% of ENSO's supply left Bybit and was back on three other exchanges 16 minutes later.
About 10 hours ago, 989K $ENSO ($898K) went from Bybit to a two-day-old wallet. It was split three ways right away: 565K landed on Binance, 212K on Bitget and 212K on MEXC.
A withdrawal usually reads as holding. This one was a stop on the way to other order books, which makes it look more like moving supply between exchanges than taking it off the market.
For scale, ENSO trades about $3.9M a day, and open interest is $4.5M, a quarter of its market cap. Most accounts are short, while the biggest positions lean heavily long. Price hasn't moved since. If those coins get sold on the new books, a market this size will show it.
About 10 hours ago, 989K $ENSO ($898K) went from Bybit to a two-day-old wallet. It was split three ways right away: 565K landed on Binance, 212K on Bitget and 212K on MEXC.
A withdrawal usually reads as holding. This one was a stop on the way to other order books, which makes it look more like moving supply between exchanges than taking it off the market.
For scale, ENSO trades about $3.9M a day, and open interest is $4.5M, a quarter of its market cap. Most accounts are short, while the biggest positions lean heavily long. Price hasn't moved since. If those coins get sold on the new books, a market this size will show it.