ENA Whale Takes $5.6M Profit with $10M CEX Deposit as Volatility Looms

A prominent cryptocurrency whale deposited 15.1 million ENA tokens, valued at approximately $10.09 million, into centralized exchanges (CEX), marking a significant on-chain activity in the altcoin market. The transaction, attributed to a single wallet address (0x5119941df07190f196f928f5087acf3dd9ed41e1), represents a strategic profit realization after a three-month holding period. The whale initially acquired 15.147 million ENA tokens for $4.5 million and had previously sold 47,169 ENA for $21,153 in USDC, resulting in a total profit of $5.63 million, or a 125% return on investment Major ENA Whale Executes $10M Deposit to CEX with $5.63M Profit^[1]. This move underscores growing institutional and large-holder activity in ENA, the native token of the Ethena protocol focused on synthetic dollar assets.

The deposit occurred amid increased ENA trading volumes, with daily volumes on Binance surging by over 15% in the preceding week. The whale's action aligns with broader trends of profit-taking in DeFi tokens, particularly as Ethena's total value locked (TVL) stabilized at $2.5 billion. The transaction's timing coincided with ENA's price hovering near $0.669, suggesting confidence in the token's short-term liquidity. Analysts note that such large deposits often signal impending liquidity shifts, as whales may seek to capitalize on market volatility or secure gains before potential price corrections ENA Whale Deposits 15.1M ENA ($10.09M) to Binance, Realizes …^[3].

Further on-chain activity highlighted in the data includes a separate transfer of 10 million ENA ($11.9 million) to Bybit by a multi-signature address (0xc69...), which still holds 124.7 million ENA staked on the platform. This entity, linked to Arthur Hayes of BitMEX, has a history of pre-price-drop sales, indicating a strategic approach to market timing. Additionally, Galaxy Digital deposited 6.38 million ENA ($7.49 million) to Binance at $1.173 per token, following a prior withdrawal of 10.9 million ENA in December 2024. The firm expects a 26% profit from this transaction, reflecting its continued interest in ENA despite market fluctuations Data: Two whales/institutions transferred a total of 16.38 million …^[2].

Market participants are closely monitoring the implications of these deposits. ENA's 24-hour trading volume across major pairs reached $150 million on September 20, 2025, a 10% increase from the prior day, as larger holders consolidate positions. Technical indicators, including a relative strength index (RSI) of 55 and a 50-day moving average at $0.68, suggest neutral momentum with potential for short-term volatility. Traders are advised to watch key support levels around $0.60–$0.65 and resistance at $0.70, as increased exchange inflows could amplify price swings ENA Whale Deposits 15.1M ENA ($10.09M) to Binance, Realizes …^[3].

The broader crypto landscape remains dynamic, with ENA's performance closely tied to Bitcoin's trajectory. As BTC stabilized near $60,000, ENA's beta coefficient indicates susceptibility to altcoin rallies. However, leveraged exposure to ENA via platforms like Aave-where over $4.7 billion in Ethena-linked assets are deposited-introduces systemic risks. Analysts caution that a 20% drop in ETH prices could trigger cascading liquidations, potentially destabilizing ENA's peg and impacting its market cap of $4.72 billion ENA Whale Deposits 15.1M ENA ($10.09M) to Binance, Realizes …^[3].