Crypto Whale Takes $12M Loss on Ethena (ENA) Sell-Off

Blockchain data has revealed a major crypto whale incurring heavy losses on the Ethena (ENA) token.

Recent activity shows that this investor withdrew 17.87 million ENA—valued at $8.78 million—from staking and sent it to Binance, likely for selling.

The whale initially acquired ENA at an average price of $1.17, meaning they exited their position at a significant loss of over $12 million, excluding any minor gains from staking rewards.

With ENA now trading at $0.44, the token has fallen sharply from its peak of $1.52 reached about ten months ago.

Crypto analyst Il Capo recently commented on ENA’s price action, suggesting that if the decline continues, the next key support level could be around $0.40.