Institutional Investors Buy 32M Ethena Tokens as Price Holds Bullish Momentum

Institutional investors have been aggressively accumulating Ethena ($ENA), with whales purchasing 32 million tokens in the last 24 hours alone, signaling a clear bullish bias in the market [1]. This surge in accumulation by large holders has reduced the circulating supply and intensified price momentum, reinforcing the belief that $ENA remains in a healthy uptrend despite recent minor retracements [2].

The price of Ethena currently stands at $0.7087, maintaining above key moving averages, which is a positive technical indicator for sustained upward movement. Analysts highlight that the 0.68–0.70 range is a critical support zone, supported by strong trading volumes that suggest a possible continuation of the rally if this level holds [3].

Whale activity has been a defining feature of Ethena’s recent performance, with wallet holdings of 1 million to 10 million $ENA increasing steadily. This accumulation pattern is a common precursor to price increases, especially in markets with strong underlying demand. The alignment of price action with whale buying further strengthens the case for continued momentum, as large institutional and professional investors continue to add to their positions [1].

On the price chart, Ethena has moved from a prolonged consolidation phase around $0.22–0.30 to a breakout that reached $0.8555, supported by rising volumes in July and August. This marked one of the strongest advances since the token’s listing and demonstrated the robust buying power behind Ethena’s recent rally. While the price has corrected slightly, it remains above both the 7-day and 99-day moving averages, indicating continued relative strength and trend support [3].

Market watchers point to healthy trading volumes and strong green candles as further confirmation of ongoing buying pressure. These technical signals suggest that demand remains intact, even in the face of short-term volatility. Institutional participation appears to be the driving force behind the continued optimism, with large wallets and smart money players taking a long-term view amid uncertain retail sentiment [2].

Retail investors, by contrast, have remained on the sidelines, waiting for further confirmation of the trend before committing capital. This dynamic is not unusual in crypto markets, where institutional flows often dictate the direction of price movements. The current divergence between retail caution and institutional confidence underscores the maturing nature of the market, where professional capital increasingly sets the tone for broader market sentiment [1].

Ethena’s momentum shows no signs of abating, with whale accumulation reinforcing a bullish market structure. As long as the price remains above key support levels and volumes stay strong, the outlook for Ethena remains constructive. The token continues to benefit from a broader environment of high-yield crypto-native strategies and growing interest in liquid staking alternatives, making it an appealing option for investors seeking exposure without full asset immobilization [2].

Sources:

[1] Leap Digital Investment — https://leapdigitalinvestments.com.au/

[2] Cryptocurrency - World Market Live — https://worldmarketlive.com/cryptocurrency/

[3] CoinMarketCap Community Article — https://coinmarketcap.com/community/articles/68aaa5a1c9b7a42875d25726/