ENA Tokens Rush into Binance as 9.34 Million Unlocked
1min read On March 7th, a significant transaction involving the ENA token was observed. The ENA unlock address deposited 9.34 million ENA tokens into Binance, valued at approximately $3.47 million. This transaction occurred just four hours after the tokens were unlocked, indicating a swift movement of assets into a major exchange platform.
This large transaction is part of a broader trend of frequent on-chain activities involving ENA tokens. The unlocking of up to 2.07 billion ENA tokens this week has led to increased activity, with multiple large transactions being recorded. The new address 0x320...1Efd4 received 9.34 million tokens on the day of the unlock and promptly deposited them into Binance.
Another notable transaction involved Amber Group, one of ENA's liquidity providers. Amber Group transferred out 14.61 million tokens, valued at around $5.81 million, from Binance 12 hours ago. These tokens were then distributed to two different addresses. This marks Amber Group's first significant interaction with ENA in three months, highlighting the renewed interest and activity in the ENA token ecosystem.
The swift movement of tokens into Binance suggests that holders may be looking to liquidate their assets or take advantage of trading opportunities on the exchange. The increased on-chain activity and large transactions indicate a dynamic market for ENA tokens, with significant movements of assets occurring in a short period.
