Ethena Token Soars Tens of Percent After Allegedly Being Sold by Institutional Investors**
The price of the Ethena token (ENA) experienced a sharp spike of 47% in the last week, and is now traded in the range of US$0,4053. Meanwhile, this crypto asset occupies the 46th position based on market capitalization with a daily transaction volume of US$278 million.
At the same time, one of the wallets believed to belong to the investment company Arca was also recorded to receive 9,05 million ENA tokens worth around US$3,64 million from the Flowdesk platform.
According to a report from Spot On Chain, the wallet had previously traded ENA twice and managed to pocket a profit of US$1,46 million with a profit percentage of 14.6%.
Therefore, the accumulation step by this institution triggered speculation that ENA is being seriously looked at by large market players. This is also what also drives the surge in the price of Ethena token in the last few days.
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