Ethena

Token

Bitcoin

<p>Ethena's governance token <a href="https://x.com/search?q=%24ENA&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ENA</a> fell to around $0.17 on Monday, down more than 6% over 24 hours, as a broad altcoin decline pushed <a href="https://x.com/search?q=%24NEAR&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$NEAR</a>, <a href="https://x.com/search?q=%24ZEC&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ZEC</a> and <a href="https://x.com/search?q=%24WLD&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$WLD</a> lower by 5% or more. Bitcoin slipped about 1.2% over the same period. Over the past seven days, ENA has lost roughly 18%, compared with about 4% for Bitcoin and about 3% for <a href="https://x.com/search?q=%24ETH&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ETH</a>.</p>
<h2 id="binance-hack-proceeds-add-selling-pressure">Binance Hack Proceeds Add Selling Pressure</h2>
<p>The weakness follows the Binance security breach of October 29. <a href="https://crypto.news/ethena-price-falls-binance-hacker-sells-ena/" rel="noopener noreferrer nofollow">Crypto.news reported</a> that on-chain analytics firm Lookonchain found the attacker sold 217.5 million ENA for $33.93 million, swapping the tokens for Ether at an average price near $0.16. ENA was one of seven altcoins the attacker converted. According to <a href="https://www.cryptotimes.io/2026/10/31/binance-buys-back-stolen-assets-via-otc-deals-after-6-3b-hack-as-ethena-sends-24m/" rel="noopener noreferrer nofollow">Crypto Times</a>, the seven tokens were swapped for a combined 70,480 ETH, worth about $158.25 million.</p>
<p>Binance has said it set aside more than $6.34 billion in company funds to compensate users, according to <a href="https://en.bloomingbit.io/feed/news/123341" rel="noopener noreferrer nofollow">Bloomingbit</a>. The same report said a wallet tied to Ethena deposited 128.6 million ENA, worth $24.33 million, to Binance, which raised the possibility of an over-the-counter deal to help replace stolen tokens. Crypto Times noted that neither Binance nor Ethena had confirmed the purpose of the transfer at the time of publication.</p>
<h2 id="token-unlock-adds-fresh-supply">Token Unlock Adds Fresh Supply</h2>
<p><a href="https://x.com/ethena" rel="noopener noreferrer nofollow">@ethena</a> also has a scheduled token unlock this week. CoinDesk's <a href="https://www.coindesk.com/markets/2026/11/02/binance-hack-fallout-u-s-midterms-and-jobs-report-crypto-week-ahead" rel="noopener noreferrer nofollow">weekly crypto calendar</a> lists a November 5 unlock of 0.88% of ENA's circulating supply, worth $17.86 million. Unlock estimates differ between data providers, and token unlocks can add to selling pressure by increasing circulating supply.</p>
<p>Price pressure on ENA has been building for some time. DiarioBitcoin data showed the token down about 25.5% over 30 days as of November 2, trading below its short-term moving averages. Traders are likely to watch whether the unlock and any further Binance-related token flows add to supply in a market that is already under strain.</p>
<p><strong>Sources</strong></p>
<ul>
 <li><a href="https://crypto.news/ethena-price-falls-binance-hacker-sells-ena/" rel="noopener noreferrer nofollow">Crypto.news: Why is Ethena price down today, October 30?</a></li>
 <li><a href="https://www.coindesk.com/markets/2026/11/02/binance-hack-fallout-u-s-midterms-and-jobs-report-crypto-week-ahead" rel="noopener noreferrer nofollow">CoinDesk: Binance hack fallout, U.S. midterms and jobs report: Crypto Week Ahead</a></li>
 <li><a href="https://www.cryptotimes.io/2026/10/31/binance-buys-back-stolen-assets-via-otc-deals-after-6-3b-hack-as-ethena-sends-24m/" rel="noopener noreferrer nofollow">Crypto Times: Binance Buys Back Stolen Assets via OTC Deals After $6.3B Hack</a></li>
</ul>

Ethena (ENA) Falls to $0.17 as Binance Hack Selling and Token Unlock Weigh on Price

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