Ethena Whale Takes $2.71M Hit as ENA Token Drops 38% in a Month

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ENA token drops 38% in a month, reflecting market pessimism.
Whale incurs a $2.71M loss amid ENA’s price decline and unstaking.
Technical indicators suggest an ongoing bearish trend for the ENA token.

Ethena’s ENA token has seen a sharp decline in value, influenced by the prevailing global crypto bearish market sentiment. Over the past month, the token’s price has dropped by over 38%, reflecting widespread investor pessimism.

In the last seven days alone, the ENA token has fallen by an additional 10%. At press time, the ENA token is trading at $0.8045, marking a 5.41% decrease in just the past 24 hours. This continued decline highlights the token’s struggle to maintain its value amidst market uncertainties.

ENA/USD 24-Hour Chart (Source: CoinStats)

Consequently, the token’s intraday market capitalization has also suffered, decreasing by 5.35% to reach a valuation of $1.2 billion. This valuation shift has positioned the ENA token as the 65th largest by market cap, reflecting its recent market performance.

Furthermore, ENA’s trading volume has echoed this descending trajectory. Over the last 24 hours, trading volume has diminished by 11.77%, totali…

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