Ethena price: ENA dips despite 5-week peak in whale activity

• Ethena’s native token, ENA, saw its price decline as Bitcoin slid below $79,000
• The slight dip happened despite ENA notching a 5-week high in whale activity.
• Prices could fall further, but a rebound for BTC could boost ENA.

Ethena (ENA) price faced downward pressure today, dropping nearly 4% to intraday lows of $0.11 as Bitcoin grappled with renewed selling amid macroeconomic headwinds.

This decline unfolded even as on-chain metrics signaled robust interest from large holders.

Analysts say the move highlights a disconnect between whale behavior and short-term price action.

Ethena hits 5-week high in whale activity

On-chain data shows Ethena’s ecosystem has managed notable momentum.

For one, the network just hit its largest daily network growth in over three months.

The platform did not just see a surge in new wallet creations, but had ENA whale activity surging to a five-week peak, with this aligning with heightened interest bolstered by several bullish catalysts.

📈 Ethena has just seen its largest day of network growth (new wallets created) in over 3 months. Additionally,

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