Ethena backer Mechanism Capital moves 7M ENA to KuCoin after Series A
- —The 7M ENA transfer to KuCoin followed the firm's Series A announcement
- —Spot and futures taker CVD both show seller dominance
- —Funding rate stays positive at 0.0032%, with longs paying shorts
- —ENA at $0.1911; a break of $0.1870 opens the door to $0.1354
Why it matters: An investor's exchange deposit fuels selling-pressure concerns for ENA, even as derivatives positioning remains skewed long.
Source: AMBCrypto