In a noteworthy development, COINOTAG News reported on February 11th that a significant crypto whale has strategically unwound their entire holding of 17.875 million ENA, equivalent to approximately $8.78 million. This transaction was executed roughly 40 minutes ago, with assets moved to Binance. The investor had previously amassed ENA at an average acquisition cost of $1.167. Current market conditions reflect a stark price drop, as ENA is presently trading at $0.491. Should the whale decide to liquidate holdings at this price point, they would face a considerable loss of around $12.09 million, translating to a steep depreciation of 58%. This incident underscores the volatile nature of cryptocurrency markets and the inherent risks associated with high-stakes investments.
Source: https://en.coinotag.com/breakingnews/whale-cancels-17-875-million-ena-stake-faces-12-09-million-loss-amid-market-shift/