Crypto News

Major ENA Investor Sells At Significant Loss Amid Market Downturn

Another major investor in ENA has capitulated, selling at a considerable loss. The investor, identified by the wallet address 0x2Ea…4adEE, initially increased his position from $1.41 to $0.70 as prices fell.

He then opened a significant position of 10.99 million ENA, worth $11.12 million, at an average price of $1.01.

Today, this investor deposited 3.8 million ENA tokens into Binance. If sold at the current price of $0.55, he would face a loss of $1.72 million. Last month, he accumulated approximately 11 million ENA for around $11.2 million and is still staking 7.1 million ENA in Pendle, with an unrealized loss of about $3.22 million.

Ethena Lab’s Top Growing Stablecoin, USDe Soars

In other news, according to Token Terminal, the fastest-growing stablecoin in the crypto space is USDe from Ethena Labs. With a supply of $3.58 billion and a monthly growth rate of 28.3%, USDe is rapidly gaining traction.

This situation underscores the volatility in the cryptocurrency market, where even significant investors can face substantial losses. The rapid growth of USDe highlights the evolving landscape of stablecoins, which are becoming increasingly important in the digital asset ecosystem.

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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