ENA Labs Suffers Another Major Loss as Key Investor Capitulates, USDe Stablecoin Soars

Another major investor in ENA has capitulated, selling at a considerable loss. The investor, identified by the wallet address 0x2Ea…4adEE, initially increased his position from $1.41 to $0.70 as prices fell.

A major investor in Ethena (ENA) has moved a large portion of his holdings to Binance, sparking speculation that he may be preparing to sell at a significant loss.

The investor, who goes by the wallet address 0x2Ea…4adEE, initially increased his ENA position as prices fell, accumulating around 11 million ENA for roughly $11.2 million.

Now, with ENA trading at $0.55, the investor’s remaining 7.1 million ENA, which are staked in Pendle, are worth around $3.9 million.

7 hours ago, a whale 0x2Ea deposited 3.8M $ENA (~$2.12M) to #Binance.

If sold at current price, he will have realized loss ~$1.72M

Last month, he accumulated 11M $ENA for ~$11.2M and still staking 7.1M $ENA in #Pendle with unrealized loss ~$3.22M

Addresshttps://t.co/AeOJsVHkjA pic.twitter.com/56968Ll2b6

— The Data Nerd (@OnchainDataNerd) June 27, 2024

According to a report by IntoTheBlock, the investor’s average ENA entry price is $1.01, indicating that he would face a loss of around $1.72 million if he were to sell his ENA holdings at the current market value.

notable Ethena (ENA) large investors moved a large portion of their holdings to Binance.

The investor, identified by the wallet address 0x2Ea…4adEE, initially increased his position as prices fell, accumulating around 11 million ENA for roughly $11.2 million.

Now, with ENA trading at $0.55, the investor’s remaining 7.1 million ENA, which are staked in Pendle, are worth around $3.9 million.

This situation highlights the volatility in the cryptocurrency market, where even significant investors can face substantial losses.

The rapid growth of USDe, on the other hand, showcases the evolving landscape of stablecoins, which are becoming increasingly important in the digital asset ecosystem.

The Data Nerd, a Web3 sleuth, has identified the investor’s wallet address as 0x2Ea…4adEE. Last month, this investor accumulated approximately 11 million ENA tokens, with an average entry price of $1.01.

The investor began increasing his ENA position as prices fell, purchasing the tokens at an average price of $0.70 and eventually reaching an average entry price of $1.01 with the final purchase.

Today, this investor deposited 3.8 million ENA tokens into Binance. If sold at the current price of $0.55, he would face a loss of $1.72 million.

The Data Nerd’s analysis reveals that this investor is still staking 7.1 million ENA in Pendle, with an unrealized loss of about $3.22 million.

As reported by IntoTheBlock, the investor’s average ENA entry price is $1.01, indicating that he would face a loss of around $1.72 million if he were to sell his ENA holdings at the current market value.

This large investor’s movements and the虧損magnitudes are substantial, highlighting the high-stakes nature of cryptocurrency investing.

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