Strobe Fund sends final $7.5M in ENA to Coinbase, likely exits full allocation

Crypto investment firm Strobe Fund transferred the final 50 million ENA remaining in its wallet, worth about $7.54 million, to Coinbase about an hour ago, on-chain analyst EmberCN said. Exchange deposits are typically interpreted as being intended for selling. EmberCN said Strobe Fund deposited 101.95 million ENA, worth about $15.6 million, to Coinbase over the past 24 hours. The firm had received about 142.9 million tokens through its investment in Ethena (ENA), and this latest sale appears to have completed the liquidation of that entire allocation. Total sales are estimated at $32.95 million, with an average selling price of about $0.23. According to CoinMarketCap, ENA was trading at $0.153, down 1.75%, at the time of writing.