Ethena-linked address deposits 14M ENA to Bybit, likely exit

A project-linked wallet finally moving a dormant, deeply underwater stash to an exchange is a notable unlock of potential sell pressure, though the size is modest relative to ENA's broader supply. The key signal is that even insiders are willing to crystallize severe losses, which may weigh on sentiment around token holder conviction. Whether this marks the end of legacy team distributions or precedes further moves from similar addresses is the open question.