ENA Price Under Pressure: $443M Whale Exodus Signals Market Shift

ENA has taken a hit, dropping 2.3% over 24 hours while the broader market barely budged at -0.14%. The culprit? A massive 1.59 billion ENA tokens—worth roughly $443 million—just moved out of a major institutional custody platform.

Timing matters here. This exodus follows a blistering 147% rally over the past month, which naturally screams profit-taking. When prices climb that hard, you expect someone to take chips off the table.

But there's more to watch. Open interest jumped 3.9% to $358 million, hinting that traders are ramping up hedges and opening short positions. That's the market bracing for downside.

On the technical side, things look shaky too. ENA just punched through its $0.24 support level, which could open the door to further selling if momentum doesn't stabilize. Whether this shakes out weak hands or signals a deeper distribution phase is still anyone's guess—but the setup is worth monitoring closely.