Whales Accumulate $ENA As Ethena Reaches Record High TVL
Whale activity surrounding $ENA has surged in recent days, signaling strong confidence in Ethenas growing ecosystem.
Over the past three days, a newly established wallet has withdrawn 13.65 million $ENA (worth $13.42 million) from Binance, highlighting significant accumulation during the recent market dip.
Whales are accumulating $ENA.
Over the past 3 days, this newly created wallet has withdrawn 13.65M $ENA($13.42M) from #Binance.https://t.co/yVzvPAUlYG pic.twitter.com/warF4CflA8
Lookonchain (@lookonchain) December 20, 2024
In total, whales have purchased over 36.55 million $ENA amid the price correction, demonstrating their belief in the tokens long-term potential. This buying spree reflects increasing interest in Ethena as it solidifies its position as a key player in the DeFi space.
During the recent price dip, whales bought over 36.55 million #Ethena $ENA! pic.twitter.com/U410ClRCbW
Ali (@ali_charts) December 18, 2024
Data from DeFiLlama reveals that as of December 17, Ethenas Total Value Locked (TVL) surpassed an impressive $6 billion, setting a new record high. A significant portion of this comes from the supply of USDe, which reached 5.933 billion, alongside USDtb supply amounting to 70.42 million.
DeFilama 12 17 Ethena TVL 60 USDe 59.33 USDtb 7042 pic.twitter.com/djHY1oZPBA
BlockBeatsWe're hiring! (@BlockBeatsAsia) December 17, 2024
These milestones underscore the growing adoption of Ethenas ecosystem, particularly its innovative stablecoin solutions. The platforms ability to attract substantial liquidity and whale interest highlights its strong market positioning and trust within the DeFi community.
Ethenas recent success can be attributed to its robust protocol design and the increasing demand for stablecoin and yield-generating opportunities. With whales actively accumulating $ENA and TVL climbing to new heights, the project is well-positioned for continued growth and influence in the decentralized finance sector.
As investor confidence grows, all eyes remain on Ethenas next developments, as it continues to push boundaries and drive innovation in the crypto space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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