Inflecta says ENA insiders sent about $50M to exchanges a week after unlock

On-chain tokenomics analytics platform Inflecta said on its official X account that Ethena insiders deposited about $50 million worth of ENA to exchanges within a week of a large internal token unlock, with most of the tokens coming from early investors, including VCs. Exchange deposits are typically interpreted as intended for selling. According to CoinMarketCap, ENA was trading at $0.2116, down 0.17%, at the time of writing.