The total value of these transfers is estimated at around $20.41 million. While the purpose behind these fund movements remains unclear, the crypto community has interpreted the move as either a “confidence boost” or a potential “insider accumulation signal.”

Strong Reaction in ENA Price: Up 12%

Following the reported buying activity linked to the founder, the ENA token has surged 12% in the past 24 hours. The token’s market capitalization has reached $3.24 billion, while USDe, the stablecoin tied to the Ethena ecosystem, has surpassed $12 billion in market value, marking a new record.

“Founder-led purchases typically boost investor confidence. The market often interprets such insider moves as positive price signals.”
— On-chain Analyst, CryptoQuant Asia

This upward momentum has brought renewed optimism to the ENA price chart, which had shown signs of stagnation in recent weeks.

On-Chain Activity Extends Beyond Ethena

Blockchain data reveals that the surge in activity isn’t limited to Ethena (ENA) several major tokens have also seen significant movements. A newly created wallet withdrew 744,604 Chainlink (LINK) tokens from Binance, a transaction valued at roughly $12.48 million.

In another large move, a crypto whale sold 2.227 billion PEPE tokens, earning 394 ETH (approximately $1.51 million). However, on-chain data shows the investor incurred a loss of around $1.02 million from the sale. The whale then converted the acquired ETH into 147 million USDT and deposited it into the decentralized exchange Aster.

Investors Track the “Founder Buy” Signal

According to crypto analysts, purchases made by founders or team-linked wallets are often seen as confidence-restoring actions within a project. In the case of Ethena, founder Guy Young’s large-scale accumulation has been interpreted as a sign of renewed trust in the project’s future. However, some analysts caution that major founder transactions can sometimes indicate potential price manipulation, urging investors to remain vigilant.

The 48 million ENA purchase linked to Guy Young has made a major impact across the market, not only fueling ENA’s recovery rally but also increasing overall on-chain activity. Now, investors are watching closely to see whether this move marks the beginning of a long-term strategic accumulation or merely a short-term position adjustment.

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The post Altcoin Founder Makes Major Purchase: Token Price on the Rise! appeared first on Coin Engineer.

Bithumb Lists Ethena (ENA) Token

ENA Trading Details:

• Supported Market: KRW Market
• Supported Network: Ethereum (Deposits from other networks will not be supported)
• Deposit/Withdrawal Start: Within three hours of the announcement
• Trading Start: February 25, 2025, at 9:00 PM KST
• Initial Price: 536 KRW
• Deposit Confirmation Requirement: 33 confirmations

Bithumb has also introduced temporary restrictions for the launch. Buyers will not be able to place orders in the first five minutes of trading, and sell orders will be limited to a range of -10% to +100% of the base price during this period. Automated trading will only be available after the first transaction is completed.

Last year, ENA was listed on another major South Korean exchange, Bybit, on April 2, 2024, where it is traded against USDT.

Listings on major crypto exchanges such as Bybit and Bithumb typically trigger a sharp increase in the price of the associated cryptocurrency. However, ENA has experienced only a modest rebound, recovering some of its losses from the previous day but still showing a 7.5% decrease in the last 24 hours.

ENA’s subdued price movements mirror the broader slump in the crypto market, with the $1.4 billion Bybit hack and ongoing macroeconomic concerns driving traders to seek safer investments.

Despite the recent downturn, analysts remain optimistic about ENA’s long-term potential.

What is Ethena (ENA)?

Ethena (ENA) is a synthetic dollar protocol developed on the Ethereum blockchain network. Launched in February 2024, this protocol operates similarly to stablecoin projects, with its primary goal being to enable the use of fiat currencies in the blockchain space and to serve as a bridge between the dollar and cryptocurrency.

The Ethena ecosystem consists of cryptocurrencies like USDe and ENA, as well as a product called Internet Bond.

Why is Bithumb Important?

As one of South Korea’s largest cryptocurrency exchanges, Bithumb stands out for its user-friendly interface and extensive service offerings. It supports crypto bot trading, provides accounts for institutional investors, grants access to liquidity pools, and offers passive income opportunities. Bithumb also provides 24/7 customer support.

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The post Bithumb Announces a New Listing! appeared first on Coin Engineer.

Since its launch a year ago, the cryptocurrency project Ethena, which has become one of the largest dollar-based cryptocurrencies, raised $100 million to finance the promotion of a similar token targeting traditional financial institutions.

The previously undisclosed fundraising was completed in December and attracted investor interest.

WLFI and ENA Strategic Partnership

As we previously knew, World Liberty Financial (WLFI), supported by Donald Trump, had made significant partnerships to increase its influence in the DeFi ecosystem. Recently, WLFI strengthened its position in the sector by establishing strategic alliances with various projects.

So, what have WLFI & ENA been working on?

WLFI’s long-term partnership with Ethena Labs takes the company’s impact in the DeFi world to the next level. The first step of this partnership involves using Ethena’s interest-bearing sUSDe token as collateral within the WLFI protocol. Furthermore, Ethena and WLFI plan to integrate sUSDe as the first new token supported by the Aave protocol.

The statement also mentioned that even if the governance vote results in a negative outcome, the parties would continue to pursue their partnership. This highlights the strength of the collaboration between WLFI and ENA, showing their determination to maintain the partnership despite potential obstacles.

Regardless of the governance vote result, both parties emphasize their commitment to working together to achieve their long-term goals.

This move aims to leverage Ethena’s large user base and high total value locked (TVL). As mentioned earlier, the strong strategic moves of both Ethena and WLFI are designed to boost their impact in the DeFi space.

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The post Ethena (ENA) Raises $100 Million for Financial Initiative appeared first on Coin Engineer.

In an official statement on Wednesday, May 22, Binance announced that it will add trading pairs for Arweave (AR), Ethena (ENA), Pepe (PEPE), Renzo (REZ), and Tellor Tributes (TRB).

With the new trading pairs, Binance will enable AR and TRB traders to trade against First Digital USD (FDUSD), ENA and PEPE traders to trade against Euro (EUR), and REZ traders to trade against USD Coin (USDC).

According to the announcement, traders will be able to start trading AR/FDUSD, ENA/EUR, PEPE/EUR, REZ/USDC, and TRB/FDUSD on Binance at 11:00 AM (Turkey Time) on May 23.

In addition, it was announced that the AR/FDUSD, ENA/EUR, PEPE/EUR, REZ/USDC, and TRB/FDUSD trading pairs can also be used for spot Algo orders.

The post Binance Lists 5 New Trading Pairs appeared first on Coin Engineer.