140,000,000 ENA Vanish From Exchanges in Just 4 Days - Price Explosion Incoming?

Mass Exodus: ENA Tokens Flee Trading Platforms at Breakneck Speed

The Supply Squeeze

Someone's making big moves—140 million ENA tokens just disappeared from exchange wallets. That's not casual profit-taking; that's strategic positioning. When coins leave exchanges, they're not being prepared for sale—they're being tucked away for bigger things.

Market Mechanics at Play

Reduced exchange supply typically signals holder confidence and potential price upside. Basic economics: scarcity drives value. With fewer tokens available for trading, even modest demand can trigger significant price movements. The crypto markets have seen this story before—and it usually ends with green candles.

The Institutional Angle

This isn't retail FOMO. Moving 140 million tokens requires coordination and capital—hallmarks of smart money positioning. While Main Street was watching stock tickers, the crypto natives were accumulating. Again.

Price Prediction Reality Check

Will price react? History says yes—but crypto markets have perfected the art of disappointing the obvious trade. Nothing makes traders poorer than predictable patterns—except maybe listening to financial advisors who still think Bitcoin is a fad.

Watch the order books, not the headlines. The real action happens before the retail crowd even notices the price moving.

140 Million ENA Removed From Exchanges

Over a four-day span, 140 million Ethena (ENA) tokens were taken out of exchanges. The data, shared by analyst Ali Martinez, shows a drop in exchange supply from 1.3 billion to 1.16 billion ENA between August 17 and August 21, 2025. The chart used confirms the steady outflow over that time.

140 million Ethena $ENA withdrawn from exchanges in the last 96 hours! pic.twitter.com/hGaO0ESDT0

— Ali (@ali_charts) August 22, 2025

Despite these withdrawals, the ENA price fell from above $0.80 to around $0.64. Withdrawals of this scale often suggest reduced sell-side pressure. However, the continued price drop points to weak demand or possible off-exchange trading activity.

As of press time, ENA traded at $0.65. Over the past 24 hours, it has seen a slight rise of 0.55%, with a total volume of $442 million. Over the last week, however, the token has fallen by over 10%, showing ongoing market weakness.

In a related update, tracking account Lookonchain reported that a trader identified as 0x2611 is facing more than $1.85 million in losses on a long ENA position. To avoid liquidation, they added 1.7 million USDC into Hyperliquid earlier today.

Technical Support Level Under Watch

Technical trader Altcoin Sherpa posted a chart showing ENA trading around a confluence of key indicators. The recent price area is close to the 200-day EMA at $0.62, the 0.382 Fibonacci retracement at $0.61, and an older resistance level in late July. The coincidence of these factors indicates a potential support zone.

Meanwhile, the asset is reacting around this area, which could serve as a decision point. If the support holds, buyers may step in. If it fails, further downside toward the next Fibonacci level around $0.53 could follow.

Protocol Update and Long-Term View

Ethena Labs shared recent performance data for its USDe protocol. Over $500 million in total revenue has been generated to date. Weekly protocol revenue hit $13.4 million, and USDe supply reached a record high of $11.7 billion, reflecting increased adoption of synthetic stablecoins.

Long-term analysis from Altcoinpedia points to a possible downside toward $0.50. If the price holds there, a bounce toward $1.10 may follow. A MOVE above that level could bring higher targets in the $2–$5 range.