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140,000,000 ENA Pulled Off Exchanges in 4 Days: Will Price React?

ENA price chart

TL;DR

  • 140 million ENA tokens had been withdrawn in 4 days as the value continued sliding under $0.65.
  • Dealer faces $1.85M loss on ENA lengthy; provides $1.7M USDC to keep away from liquidation.
  • ENA assessments key assist close to 200 EMA and Fibonacci zone, with bulls eyeing doable bounce.

140 Million ENA Eliminated From Exchanges

Over a four-day span, 140 million Ethena (ENA) tokens had been taken out of exchanges. The information, shared by analyst Ali Martinez, reveals a drop in trade provide from 1.3 billion to 1.16 billion ENA between August 17 and August 21, 2025. The chart used confirms the regular outflow over that point.

Regardless of these withdrawals, the ENA value fell from above $0.80 to round $0.64. Withdrawals of this scale typically recommend reduced sell-side stress. Nevertheless, the continued value drop factors to weak demand or doable off-exchange buying and selling exercise.

As of press time, ENA traded at $0.65. Over the previous 24 hours, it has seen a slight rise of 0.55%, with a complete quantity of $442 million. Over the past week, nonetheless, the token has fallen by over 10%, exhibiting ongoing market weak point.

In a associated replace, monitoring account Lookonchain reported {that a} dealer recognized as 0x2611 is dealing with greater than $1.85 million in losses on a protracted ENA place. To keep away from liquidation, they added 1.7 million USDC into Hyperliquid earlier at the moment.

Technical Assist Degree Below Watch

Technical dealer Altcoin Sherpa posted a chart exhibiting ENA buying and selling round a confluence of key indicators. The current value space is near the 200-day EMA at $0.62, the 0.382 Fibonacci retracement at $0.61, and an older resistance degree in late July. The coincidence of those components signifies a possible assist zone.

ENA price chart
Supply: X

In the meantime, the asset is reacting round this space, which might function a choice level. If the assist holds, consumers could step in. If it fails, additional draw back towards the subsequent Fibonacci degree round $0.53 might comply with.

Protocol Replace and Lengthy-Time period View

Ethena Labs shared current efficiency information for its USDe protocol. Over $500 million in complete income has been generated thus far. Weekly protocol income hit $13.4 million, and USDe provide reached a report excessive of $11.7 billion, reflecting elevated adoption of artificial stablecoins.

Lengthy-term analysis from Altcoinpedia factors to a doable draw back towards $0.50. If the value holds there, a bounce towards $1.10 could comply with. A transfer above that degree might deliver larger targets within the $2–$5 vary.

The publish 140,000,000 ENA Pulled Off Exchanges in 4 Days: Will Price React? appeared first on CryptoPotato.

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