Ethena (ENA) Falls 15.76% to $0.2015 as 1.45M Tokens Flow to Exchanges
- —Net inflow of 1.45M ENA to exchanges on October 13, reversing a 13.68M outflow the prior day
- —79.4% of reported volume flagged as wash trading, with real volume near $44.78M
- —Binance market maker wallet holding 29.81M ENA is underwater by roughly 9.5%
- —ENA contract carries a mintable flag, allowing supply issuance without a fixed cap
Why it matters: Exchange inflows and an underwater market maker raise the risk of further ENA downside unless outflows return above 10 million tokens.
Source: Coincu