Ethena

<ul><li>Whale sold 9.33 million ENA at an average price of $0.83, incurring significant losses.</li><li>Investor&#39;s total loss from ENA transactions amounted to $2.71 million.</li><li>Initial ENA investment included 6.01 million tokens bought at $0.95 each on April 5.</li></ul><a href="https://cryptotale.org/ethenas-momentum-whale-move-sparks-investor-confidence/" rel="noopener noreferrer nofollow">Ethena</a>, a synthetic dollar protocol built on the Ethereum blockchain, recently witnessed significant trading activity involving its native token, $ENA. According to insights from <a href="https://twitter.com/lookonchain/status/1789834051609870423" rel="noopener noreferrer nofollow">Lookonchain</a>, a notable investor made substantial transactions that resulted in a considerable financial loss.On April 5, the investor removed 6.01 million $ENA, valued at $5.71 million, from the <a href="https://cryptotale.org/binance-announces-ethena-ena-launchpool-amidst-prelaunch-surge/" rel="noopener noreferrer nofollow">Binance</a> exchange platform. During then, each token was priced at $0.95. This initial move involved staking the $ENA tokens as the investor aimed to benefit from potential price increases.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/51935f9322e8495ab27098b884275a2c.png" />The price of $ENA rose on April 10, as the token hit $1.44. The same investor withdrew an additional 3.32 million $ENA, then worth $4.76 million, from Binance. This was a strategic decision during a market high.However, the trading scenario took a downturn. After April 10, the value of $<a href="https://cryptotale.org/crypto-storm-alert-is-ethenas-usde-stablecoin-ready-for-market-turbulence/" rel="noopener noreferrer nofollow">ENA</a> began to decrease sharply. By April 25, the ongoing fall in prices prompted the investors to start unstaking and selling their holdings at a noticeable loss.<a href="https://cryptotale.org/crypto-whale-loses-2-71m-in-ena-trade-game-will-it-raise-again/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Crypto Whale Loses $2.71M in ENA Trade Game: Will it Raise Again?

CryptoTale

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