Ethena (ENA)

Multicoin Capital transferred 54.65 million $ENA ($5.12 million) to Galaxy Digital 4 hours ago, presumably via an OTC sale.
ENA dropped 14% over the past 24 hours.

They received these ENA from the project’s wallet in October last year, which were worth $25.1 million at the time, now down 80%.

Even though the ENA shrank by 80%, this address still made a profit of $28.3 million on HYPE:
In January, they bought 1.355 million HYPE at $29 each;
In March, they sold half at $34, and held the other half to the present.

https://t.co/O8hzW4Hnic

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Multicoin Capital deposited 56.116M $ENA ($5.28M) into #Galaxy Digital and #BitGo.

Address: 0xD4d56a30a4a745f8Ba732E8B453b7066260fBC10 https://t.co/SGpV1yfGBP

Santiment Intelligence @SantimentData reports that on June 3, during the market bottom phase, there was a sharp influx of new users into several altcoins.

For ENA, ZRO, WLD and others, the number of newly created wallets reached the highest level in the past three months.

Historically, when multiple alts experience simultaneous network growth acceleration, it often precedes a mid-term altcoin rebound.