Ethena-related address suspected of liquidating ENA, assets shrank by $4.48 million compared to receipt.

According to on-chain analyst Ai Yi, an address affiliated with the Ethena project, 0x891…e4041, appears to have cleared its ENA position after being dormant for approximately two years. In July 2024, the address received 14 million ENA tokens transferred from an Ethena multisig address, then valued at approximately $6.89 million at a price of roughly $0.4928. Six hours ago, the address deposited all of its ENA into Bybit. The holdings are currently worth approximately $2.41 million, down roughly $4.48 million from when they were received and a drop of over $8.735 million from their peak.