An address deposited 18.91 million ENA to Binance, worth $2.7 million

Odaily reports that according to on-chain analyst Ai Yi, an address deposited 18.91 million ENA to Binance two hours ago, worth $2.7 million, in what appears to be a sell-off. The address received these tokens from the Ethena Proxy contract between February and November 2026, when ENA was priced at $0.1772; it has now fallen to $0.1432, a decline of over 19%. Additionally, the address appears to transfer ENA to exchanges at regular intervals, possibly related to unlocks by the team, institutions, and related parties.