Ethena price pares losses as whales buy after brief USDe peg
Whales have bought the ENA dip
Ethena price crashed by double digits on Friday, reaching its lowest level on record as well as crypto market plunge accelerated. It also suffered a $226 million liquidation event as exchanges shut down leveraged trades amid the intensifying sell-off.
Third-party data indicate that whale investors have purchased during the recent dip, suggesting they expect the ENA price to rebound eventually. According to Nansen, whales now hold 45.2 million tokens, up from the Friday low of 39.19 million tokens.
