Crypto whales are reportedly increasing their Ethena ($ENA) holdings amid the growing bullish momentum in the market. As per Lookonchain, a prominent on-chain analytics firm, a whale has redeemed 13.65M $ENA tokens from Binance. This move highlights an increasing confidence in $ENA’s future price trajectory.
Whales are accumulating $ENA.
Over the past 3 days, this newly created wallet has withdrawn 13.65M $ENA($13.42M) from #Binance.https://t.co/yVzvPAUlYG pic.twitter.com/warF4CflA8
— Lookonchain (@lookonchain) December 20, 2024Lookonchain disclosed the latest $ENA accumulation event in an exclusive X post. The platform mentioned that the above-mentioned crypto whale has been engaging in an accumulation spree over the last 3 days. In this respect, this big asset holder created a new wallet to redeem the tokens. In total, the whale’s withdrawal accounts for an amount of up to $13.42M. The whale extracted this staggering amount from the prominent crypto exchange Binance.
In addition to this, the crypto sector has recently been seeing investors’ doubled-down interest in $ENA. They have been increasing their $ENA holdings to capitalize on a potential price surge in the coming time. Additionally, the rising demand for $ENA will likely contribute a lot to push the price to further heights.
According to Lookonchain, there is a wider trend among the whales to accumulate $ENA while market onlookers are optimistic. Based on the speculations, the $ENA token has a significant potential for growth. The overall supportive market conditions may help trigger its next price surge. At the moment, the crypto token is changing hands at up to $0.9204.
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