{"id":90412,"date":"2025-08-22T07:26:36","date_gmt":"2025-08-22T07:26:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=90412"},"modified":"2025-08-22T07:26:36","modified_gmt":"2025-08-22T07:26:36","slug":"140000000-ena-pulled-off-exchanges-in-4-days-will-price-react","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=90412","title":{"rendered":"140,000,000 ENA Pulled Off Exchanges in 4 Days: Will Price React?"},"content":{"rendered":"

TL;DR<\/p>\n

140 million ENA tokens were withdrawn in four days as the price continued sliding below $0.65.
\nTrader faces $1.85M loss on ENA long; adds $1.7M USDC to avoid liquidation.<\/span>
\nENA tests key support near 200 EMA and Fibonacci zone, with bulls eyeing possible bounce.<\/span><\/p>\n

140 Million ENA Removed From Exchanges<\/h2>\n

Over a four-day span, 140 million Ethena (ENA) tokens were taken out of exchanges. The data, shared by analyst Ali Martinez, shows a drop in exchange supply from 1.3 billion to 1.16 billion ENA between August 17 and August 21, 2025. The chart used confirms the steady outflow over that time.<\/span><\/p>\n

140 million Ethena $ENA<\/a> withdrawn from exchanges in the last 96 hours! pic.twitter.com\/hGaO0ESDT0<\/a><\/p>\n

\u2014 Ali (@ali_charts) August 22, 2025<\/a><\/p>\n\n

Despite these withdrawals, the ENA price fell from above $0.80 to around $0.64. Withdrawals of this scale often suggest <\/span>reduced<\/span><\/a> sell-side pressure. However, the continued price drop points to weak demand or possible off-exchange trading activity.<\/span><\/p>\n

As of press time, ENA traded at $0.65. Over the past 24 hours, it has seen a slight rise of 0.55%, with a total volume of $442 million. Over the last week, however, the token has fallen by over 10%, showing ongoing market weakness.<\/span><\/p>\n

In a related update, tracking account Lookonchain <\/span>reported<\/span><\/a> that a trader identified as 0x2611 is facing more than $1.85 million in losses on a long ENA position. To avoid liquidation, they added 1.7 million USDC into Hyperliquid earlier today.<\/span><\/p>\n

Technical Support Level Under Watch<\/h2>\n

Technical trader Altcoin Sherpa <\/span>posted<\/span><\/a> a chart showing ENA trading around a confluence of key indicators. The recent price area is close to the 200-day EMA at $0.62, the 0.382 Fibonacci retracement at $0.61, and an older resistance level in late July. The coincidence of these factors indicates a potential support zone.<\/span><\/p>\n

<\/a>Source: X<\/p>\n

Meanwhile, the asset is reacting around this area, which could serve as a decision point. If the support holds, buyers may step in. If it fails, further downside toward the next Fibonacci level around $0.53 could follow.<\/span><\/p>\n

Protocol Update and Long-Term View<\/h2>\n

Ethena Labs <\/span>shared<\/span><\/a> recent performance data for its USDe protocol. Over $500 million in total revenue has been generated to date. Weekly protocol revenue hit $13.4 million, and USDe supply reached a record high of $11.7 billion, reflecting increased adoption of synthetic stablecoins.<\/span><\/p>\n

Long-term <\/span>analysis<\/span><\/a> from Altcoinpedia points to a possible downside toward $0.50. If the price holds there, a bounce toward $1.10 may follow. A move above that level could bring higher targets in the $2\u2013$5 range.<\/span><\/p>\n

The post 140,000,000 ENA Pulled Off Exchanges in 4 Days: Will Price React?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR 140 million ENA tokens were withdrawn in four days as the price continued sliding below $0.65. Trader faces $1.85M loss on ENA long; adds $1.7M USDC to avoid liquidation. ENA tests key support near 200 EMA and Fibonacci zone, with bulls eyeing possible bounce. 140 Million ENA Removed From Exchanges Over a four-day span, […]<\/p>\n","protected":false},"author":0,"featured_media":90413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-90412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/90412"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=90412"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/90412\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/90413"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=90412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=90412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=90412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}