ENA Token Inflows Don Hit $150M: E Mean Say Dem Fit Sell Off
Crypto analyst Ali Martinez don report say dem put 250 million ENA tokens wey worth $154.75 million enter exchange for two weeks. Dis kain big flow for exchange fit mean say big players (whales) wan sell more. Even if e fit look like say price go drop, na instead ENA price jump 14.34% reach $0.6121, wey show say market get plenty sides.
Normally, when big ENA tokens land for exchange, e dey usually lead to price wahala and corrections if supply pass demand. But sometimes, strong buyers or market makers fit hold dis kain flow make e no make price drop too much. People fit dey do dis to take profit, make market balance, do arbitrage trading, or arrange position before Ethena protocol update.
Traders suppose dey use on-chain data monitor how tokens dey enter exchange and how big players dey move. If dem compare how much token land with trading amount, e fit show if demand fit swallow the supply. Important things be Ethena project news, partnerships and protocol upgrades. To avoid risk, traders fit put stop-loss and carry small profit. No dey react just from deposit data without looking market trend and liquidity.
The $150 million ENA token deposit na big change for market liquidity. Even though e fit mean selling pressure, ENA strong level show say traders need do more on-chain and fundamental check. Traders must dey watch well, balance technical signals with project fundamentals to waka through possible market shakings.
Bearish
Big big ENA token dem wey person dey put for exchang dem usually mean say supply don increase and e fit cause pressure to sell. For this case, di transfer of 250 million ENA (≈$155 million) inside two weeks show say big part of di tokens wey dey circulate don ready for trade now. For di past, similar big big transfer from whales—for example big ETH deposit for late 2023—come before price correction weh happen when demand no fit handle di extra liquidity.
Even though ENA price jump small like 14.34%, e fit be say na tactical buying or market maker dem dey do, no be say fundamentals don change. For short term, traders fit see more wahala because market dey try digest di extra supply. For long term, if demand no strong or no better news come to balance am, di extra selling power fit hold price down.
Because of these things, outlook dey bearish. Traders suppose dey watch more on-chain data, trading volumes, and Ethena project development to sabi if di inflow go turn to real sell orders or if buyers go swallow am.