On November 12, 2026, Odaily reported that on-chain analyst Ai Yi had flagged an address depositing 18.91 million ENA, worth about $2.7 million, to Binance roughly two hours before the report. The transfer raised the possibility of a sale, but a deposit alone does not confirm one.
According to the report, the address received those tokens from the Ethena Proxy contract between February and November 2026. Odaily cited an ENA price of $0.1772 at the time of receipt and $0.1432 at the time of reporting—a decline of more than 19%.
The address also appeared to transfer ENA to exchanges periodically. Odaily said the pattern may be related to unlocks involving the team, institutions or other associated parties; it did not establish that connection.