TREE NEWS reports: An address 0x93c…3C6B9 deposited 11.64 million ENA, worth about $2.85 million, to Bybit on October 12, roughly a month after its previous deposit to the exchange. The tokens originated from an Ethena Proxy address, and the transfer marks the largest such deposit in nearly a year.
Address Deposits 11.64M ENA Worth $2.85M to Bybit After One-Month Pause
AI take
A dormant wallet resuming exchange deposits after a month is the kind of pattern worth noting, especially when the tokens trace back to an Ethena Proxy rather than an ordinary holder. The scale — the largest such move in nearly a year — suggests this is a deliberate position adjustment rather than routine housekeeping, and it lands on Bybit, a venue where large ENA inflows are visible to anyone tracking order flow. Whether this is a one-off repositioning or the start of a broader distribution from proxy-linked addresses is the open question.
Generated by AI for reference only.
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