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Anchorage Digital, a cryptocurrency banking platform for institutions, recently made a significant transaction involving the cryptocurrency exchange Binance. The company withdrew approximately 10.7 million Ethena (ENA) coins, valued at around 4 million dollars, significantly increasing its holdings of ENA assets. This transaction marks Anchorage Digital’s largest recorded trade of ENA to date, placing ENA among the top altcoins in the company’s portfolio.
Value Decline of Ethena
Since its launch in April 2024, the ENA coin has experienced a notable decline in value. Currently, the price of ENA has decreased by 43% since its debut.
This decline has led investors to question their confidence in the altcoin. However, Anchorage Digital’s substantial withdrawal of ENA coins may create renewed interest among investors.
The withdrawal from Binance is seen as a crucial step in Anchorage Digital’s cryptocurrency investment strategy. Strengthening its portfolio with ENA is interpreted as a sign of confidence in the altcoin’s prospects.
Current Status of ENA Coin
As per the latest data, ENA coin is trading at $0.3525, reflecting a 0.57% increase in the past 24 hours. This price increase indicates that ENA is distinguishing itself from many other altcoins in the cryptocurrency market.
Currently, many altcoins, especially Ethereum (ETH) 
$2,658, are facing significant losses following the decline in Bitcoin (BTC) 
$111,285. However, developments such as Anchorage Digital’s recent move suggest that ENA coin may be showing resilience. This resilience could be at risk if the downward trend in altcoins deepens.
It is also worth noting that ENA coin has recorded a 3.79% decline over the past week and a 3.77% drop over the last month.
