Ethena Whale Stakes 60M Tokens As Supply Tightens

Ethena is back in the spotlight after a large whale locked up 60 million tokens in staking contracts. This massive move comes as ENA tests important support price levels following recent market cooling.

When large holders stake their coins, it usually means they plan to hold for the long term. This action pulls tokens off exchanges, which lowers the immediate sell pressure. Market watchers are keeping a close eye on this trend to see if the shrinking supply can spark a price recovery.

Traders should watch the current support zone closely over the next few days. If buyers step in while exchange balances stay low, ENA could see a strong bounce. However, broader market conditions will also play a big role in the next direction.