Recent on-chain data suggests that notable cryptocurrency whales may have initiated substantial sales of Thisa project launched on Binance's Launchpool platform, which has attracted significant attention in the market.
According to information from Spotonchain, two whales executed deposits totaling 17.33 million ENA dollars (equivalent to 15 million dollars) in Bybit in the last few hours.
These transactions follow the receipt of a combined total of $24.52 million ENA from ethena_labs on April 1-2. Currently, one of the whales retains ownership of $7.18 million ENA (valued at $6.47 million).
Two whales have just deposited 17.33M $THIS ($15 million) to #Bybit in the last 8 hours!
They received a total of 24.52M $THIS from the @ethena_labs on April 1 and 2. Currently, one of the whales still has 7.18 million $THIS ($6.47 million).
However, this may not be an immediate sell order since the $THISโฆ pic.twitter.com/jUklVcyofS
- Spot on chain (@spotonchain) May 10, 2024
While the influx of ENA tokens into Bybit could raise concerns about a possible liquidation, the stability in the price of $ENA in the past few hours suggests that this may not be an immediate liquidation strategy.
Without a doubt, the launch of ENA on Binance's Launchpool platform has generated considerable excitement within the cryptocurrency community. However, the recent movement of important holdings of these whales into the ENA adds an intriguing dynamic to the project's trajectory.
Market participants will closely monitor any developments related to the disposal of ENA tokens by these whales and their possible impact on market sentiment and price dynamics.
As the cryptocurrency landscape continues to evolve, such transactions underscore the influence and importance of large-scale investors in shaping market trends and outcomes.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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