Ethena-Linked Address Appears to Liquidate Holdings After Two Years of Inactivity

On September 4, on-chain analyst Ai Yi (@ai_9684xtpa) monitored that an address linked to the Ethena project appeared to have fully liquidated its holdings after two years of dormancy, with assets down 65%. According to BlockBeats On-chain Detection, address 0x891…e4041 received 14 million ENA transferred from an Ethena multisig address in July 2024 and later moved all tokens to a CEX, leaving only $2.41 million. The address had received the tokens when they were worth $6.89 million at a price of $0.4928 per ENA. Compared with the time of receipt, the holdings had fallen by $4.48 million, and compared with the peak, they had declined by more than $8.735 million.