Ethena Price Hinges on $0.085 Support Amid Whale Transfer and Bitcoin's Next Move
Ethena (ENA) is facing a critical moment as it tests support at $0.085, a level that could make or break its recent recovery.
The token has already made significant gains in the past week and two weeks, but the latest transfer of approximately 290 million ENA from a Coinbase custody wallet to another account has raised concerns about potential selling pressure.
While the transfer alone did not trigger an immediate wave of selling, market data shows that exchange netflows remain negative, indicating more ENA is leaving exchanges than entering them. This suggests the transaction has not yet translated into confirmed selling pressure in the spot market.
The token's historical price action provides additional context: ENA currently trades about 94.3% below its all-time high of $1.52 and roughly 23.4% above its all-time low of $0.07023, recorded on June 30, 2026.