ENA Whale Stake Strengthens Accumulation Narrative Amid Cautious Demand

A significant whale has invested in Ethena (ENA), staking 60 million tokens worth approximately $4.73 million, just a day after acquiring them through Coinbase Prime.

This move represents nearly 0.63% of ENA's circulating supply and immediately removes a substantial allocation from liquid circulation.

The whale's behavior suggests a long-term investment approach rather than short-term speculation.

ENA's exchange outflows continue to favor outflows, with a daily reading of -$455.65K extending the trend of negative netflows.