Ethena (ENA) Whale Activity Signals Potential Recovery Amid Tightening Supply

While Ethereum (ETH) exchange reserves remain at multi-year lows, market focus has recently shifted toward significant activity within its ecosystem, specifically regarding Ethena (ENA). Recent data revealed a substantial $4 million whale move in ENA as the token's available supply continues to tighten. Buyers are currently absorbing sell-side pressure, signaling a potential structural recovery above key resistance levels. This momentum mirrors the broader scarcity seen in Ethereum, where exchange reserves have hit approximately 16.2 million units, their lowest level since 2016. Analysts suggest that institutional and whale accumulation is significantly reducing available sell-side liquidity across these assets. If this trend persists, the scarcity of liquid supply on exchanges could provide a strong catalyst for a supply squeeze and significant upward price movement.

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