A New Whale Just Locked $3.69 Million of ENA-More Fuel for the Move?

A fresh address accumulated 40 million ENA and staked it

A new address bought 40 million ENA for $3.69 million, averaging $0.09269 per token, then staked the entire holding in the Ethena protocol. With ENA trading at $0.09, that purchase represents a meaningful single-wallet move.

At the time reported, ENA also had a market cap of $879,705,901 and 24-hour trading volume of $107,616,917. By that measure, the trade amounted to roughly 3.4% of one day's volume, which is large enough to notice.

Why the staking matters

The notable part is not just the accumulation. It is what happened next: the tokens were staked rather than left sitting in a spot wallet. Staking does not remove ENA from circulation forever, but it can reduce the immediately tradable supply for a period. That makes the move more interesting than a simple buy-and-hold entry.

One wallet alone does not prove a broader trend. Still, a trade that both absorbs supply and locks it deserves attention, especially when market participants are already watching recent momentum and upcoming token unlock pressure.