Ethena-linked address offloads ENA, realizing $4.48 million loss

On September 4, on-chain analyst Ai Yi reported that an address linked to Ethena (0x891…e4041) appeared to liquidate its entire ENA holdings after two years of inactivity. The address had received 14 million ENA from an Ethena multi-sig wallet in July 2024, valued at approximately $6.89 million at the time. The tokens were deposited into Bybit six hours ago, with a current value of $2.41 million, marking a loss of $4.48 million compared to the initial receipt and over $8.73 million from its peak value.