— Withdrawal of US$ 7.1 Million Increases Accumulation Signal.🐳$ENA 🐳
Ethena Labs made another significant withdrawal of ENA tokens from Bybit, according to data released by the tracking platform Onchain Lens.
The operation moved 25 million ENA, valued at US$ 7.1 million, and was executed by the already known address starting with 0x631e — frequently associated with strategic transactions linked to the Ethena ecosystem.
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🧱 📦 Movement Reinforces Accumulation Signal
The transfer represents another significant loading leaving a centralized exchange (CEX) to a private wallet — something generally interpreted as:
• 🔒 reduction of immediate selling pressure,
• 📉 decline in circulating supply on exchanges,
• 📈 sign of confidence and long-term accumulation.
The address 0x631e, which had previously been highlighted in earlier withdrawals, now holds 779,89 million ENA, an amount valued at around $270 million.
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📊 On-Chain Context: A Well-Known Pattern
The movement reinforces the pattern observed in recent weeks:
• recurring withdrawals of 25M ENA;
• consistent movements from CEXs;
• constant increase in the reserves of this specific wallet.
The behavior has been interpreted as structured accumulation, possibly associated with treasury, strategic partners, or internal movements of Ethena Labs — although no official communication has detailed the exact purpose.
