#ENA repeats the path #LUNA ?

What is happening with the Ethena token

On June 6, 2025, the crypto community is alarmed: the ENA token has shown a decline of almost 7% in one day, and large movements have been recorded in the blockchain from the project team.

📉 What happened:

— The team’s multisig wallet transferred 17 million ENA tokens (~$5.68 million) to exchanges Binance, Bybit, and Gate.

— These tokens were unlocked just 3 days ago as part of a large unlock of $54.56 million, increasing the circulating supply by 2.82% in one day.

💬 Investors suspect that the developers have started to dump assets, which could have triggered the accelerated price drop. The team remains silent. Panic is growing.

📌 Why this is dangerous:

— The history resembles the beginning of the LUNA collapse in 2022, when the developers' fund also abruptly dumped assets, crashing the market.

— Increased issuance + transfer of tokens to exchanges = a traditional signal for a dump.

📊 At the time of writing:

— Price: $0.2944

— Decrease in 24h: ~7%

— Trend: bearish, volumes are falling

⚠️ Be careful. Until the team provides transparent comments, risks remain high. No one has forgotten the LUNA scenario.