Hack VC-linked Wallet Sells $3M ENA into Wintermute Amid 57% Rally

A wallet linked to Hack VC, a venture firm, sold nearly $3 million worth of Ethena (ENA) tokens into Wintermute during ENA's 57% price surge.

The transaction occurred on August 27, when the price of ENA was $0.1478. This timing is significant because it suggests that early investors are taking profits by selling their tokens through private OTC desks instead of public exchanges.

This move may be attributed to the use of institutional facilities, which are increasingly determining the liquidity of altcoins like Ethena. Wintermute has close ties with Ethena, as it is listed among the seed investors of Ethena's 2023 funding round.