Ethena transferred 290 million ENA worth $26.41 million from its Coinbase custody wallet to a personal wallet with a history of sending tokens to exchanges. Despite distribution concerns, ENA’s daily spot netflow remained negative at -$456.47K, with outflows exceeding inflows. At press time, ENA was trading around $0.0913, recovering towards the $0.0955 resistance level after defending the $0.0788 support. The 14-day RSI climbed to 63.83 without reaching overbought territory. Liquidation zones positioned above $0.093 and below $0.087 suggest increased short-term volatility ahead.
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