Hack VC-linked address sells 21.85M ENA via Wintermute

The size of the sale is notable, but the real signal is the route: using a market maker like Wintermute points to an orderly, over-the-counter-style exit rather than a market dump. That it comes from a venture-linked wallet raises questions about early investor sentiment and lock-up or vesting dynamics, which could weigh on ENA's liquidity outlook. The open question is whether this marks the start of broader distribution from other early backers, which would test the token's ability to absorb supply without a sharp repricing.