Ethena Labs moves $4.7M in ENA to FalconX in possible sell-off

An address believed to belong to Ethena Labs transferred 23.3 million ENA, valued at approximately $4.74 million, to FalconX about nine hours ago, according to an analysis by Onchainlens. The on-chain analysis firm suggested that the deposit was likely made with the intent to sell the tokens. Onchainlens added that the wallet in question still holds 123.4 million ENA, worth around $25 million.