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- 🎃 Halloween is here! Four GDOGs line up! 👻
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Aave founder Stani Kulechov sells 4 million ENA after unlocking
The founder of Aave, Stani Kulechov, just transferred 4 million ENA tokens ( worth approximately 2.38 million USD) to Galaxy Digital, a digital asset platform for institutions, after these tokens were unlocked from a wallet owned by Ethena 6 hours ago.
This move indicates the potential involvement of institutions in liquidity activities, reflecting the common strategy of large investors after the token is unlocked, which may impact market dynamics and investor sentiment towards Ethena.
Galaxy Digital's participation highlights institutional interest in the ENA token. The transfer of tokens from the wallet associated with Ethena may signal plans for broader market distribution or trading activities. This means that a portion of long-term held assets has been made available for circulation, indicating a shift in market structure.
While the community continues to speculate, Stani Kulechov has yet to make an official comment, and both Aave and Ethena have not responded regarding the implications of this transaction.