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$ENA Faces Turbulent Times As It Nears Key Support Level

DATE POSTED:August 5, 2024

$ENA is currently facing a challenging period, approaching the crucial $0.20 support level amidst persistent bearish trends.

The situation looks particularly dire for one significant investor, Whale 0x118d5, who might incur substantial losses if they decide to sell now.

The wallet 0x118d5 (icrypto.ai/wallet/0x11d85…) gradually withdrew 4.09 million $ENA from Binance around four months ago and staked the tokens, with an average total value of $4.62 million.

Recently, this entire amount has been unstaked and deposited back to Binance, now worth only $1.03 million. If the whale decides to sell all their $ENA at the current price, they would face a staggering loss of $3.59 million, representing a 77.7% decline.

$ENA – Wallet 0x11d85 may lose -$3.59M (-77.7%) by selling $ENA