Galaxy Digital Withdraws 9.03M ENA From FalconX As Price Surges 32%

Six hours ago, a Galaxy Digital-associated address withdrew 9.03 million ENA tokens from FalconX, valued at approximately $2.56 million USD.

This move comes as the market rebounds, with ENA experiencing a 32.51% price increase over the past seven days. Currently, the price of ENA sits at $0.2762, and investors are watching closely to see if the token can maintain its momentum ahead of the second round of airdrops.

ENA Fueled By Binance Listing Announcement Gains More Attention 

ENA has gained significant attention as one of the newer listings on Binance, and the fact that there are no token unlocks until next year adds to its allure. The next major event for ENA will be the token unlock scheduled for April 2, 2025, when 108.9% of the circulating supply will be released, representing a total value of $633.39 million. This massive unlock could influence the token’s price trajectory depending on market conditions and demand at the time.

As it stands, the ENA market is in a period of growth, but the long-term outlook will hinge on how well it performs leading up to the unlock. Short-term traders and long-term holders alike are keeping a close eye on the price action and market sentiment, especially as more details about upcoming airdrops are expected.

With ENA’s price on the rise and no major supply influx until 2025, the token’s future could be promising, provided it maintains its current upward momentum. However, the upcoming token unlock represents a key event that will likely shape ENA’s market in the longer term.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Source: https://nulltx.com/galaxy-digital-withdraws-9-03m-ena-from-falconx-as-price-surges-32/