140 million ENA tokens were withdrawn from exchanges over four days, reducing on-exchange liquidity and signaling likely accumulation by large holders; this change can tighten supply and increase short-term volatility for Ethena (ENA).
140 million ENA withdrawn from exchanges in 96 hours
On-chain data indicates significant outflows that may represent whale or institutional accumulation.
Reduced exchange liquidity can amplify price moves; monitor orderbook and on-chain flows for confirmation.
ENA tokens withdrawn: 140M removed from exchanges in four days — learn market impact and next steps. Read analysis now.
What happened when 140 million ENA tokens were withdrawn from exchanges?
140 million ENA tokens were pulled off exchanges within a four-day window ending August 22, 2025. On-chain records show large net outflows that lowered available exchange supply, a change analysts link to potential accumulation by major holders and altered short-term market depth.
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Removing 140 million ENA from exchange custody materially reduces circulating sell-side liquidity, which can magnify price moves on modest buy or sell pressure. Historical token flows show that sizable exchange outflows often precede increased volatility or short-term price appreciation if demand remains steady.
Analyst commentary: Ali Martinez, on-chain analyst, reported “140 million Ethena $ENA withdrawn from exchanges in the last 96 hours” and other market observers noted this pattern historically aligns with accumulation phases. Ethena team has not issued a public statement as of August 22, 2025.
Large withdrawals change the balance of available tokens for immediate trading and can indicate accumulation. For traders, this reduces visible sell pressure on exchanges and can create thinner order books, increasing slippage risk and potential for sharper price swings.
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Source: https://en.coinotag.com/140-million-ena-withdrawn-from-exchanges-ethena-liquidity-drop-could-signal-large-holder-accumulation/