🐳 Ethena ( $ENA ) tanked 17% in 24 hours as whales dumped 2.65M tokens worth ~$977K. Their exit triggered panic across the market, leading other holders to list at lower prices.
Adding to the pressure is a strong resistance at $0.378. According to IOMAP data, 2.83B ENA were previously sold at this level—meaning a price rally could be short-lived before another drop.
📉 In derivatives, the Taker Buy/Sell Ratio has dropped to 0.884, showing rising sell-side momentum and potential for further downside.
🛒 On the flip side, retail investors are fighting back, scooping up $1.59M in ENA—more than what whales sold. This accumulation could slow the decline and spark a recovery.
💻 Meanwhile, developer activity is booming. GitHub commits and stars hit all-time highs, signaling a healthy, growing ecosystem that could support long-term recovery.
🔮 While bears dominate for now, continued dev momentum and retail support might help ENA bounce back—if resistance at $0.378 can be flipped.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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