A newly created address, 0x9807…19c9D, withdrew about 44.19 million ENA worth roughly $6.82 million from Coinbase around four hours ago. The wallet then staked the full amount in Ethena’s stablecoin protocol contract on Ethereum about three hours ago.
The transaction flow points to a large single-wallet move of ENA from exchange custody into on-chain staking, based on data cited by Ai Yi.
Wallet Withdraws 44.19 Million ENA From Coinbase and Stakes Entire Amount
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