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Ethena’s native cryptocurrency ENA seems unaffected by market corrections and has caught the entire crypto world’s attention today with a significant price rally. Amidst the rumors sparked by the notable price increase in Ethena, global financial giant Amber Group has made a surprising purchase of ENA through a CEX, diversifying its crypto investment portfolio.
Amber Group and ENA Accumulation
Amber Group’s move has resonated among crypto market traders and investors, leading to speculation about the impact of the large accumulation on the future price direction of the token.
Following the revelation of Amber Group’s massive ENA accumulation today, investors are expecting an increase in market efficiency for the token, as well as a decrease in price volatility.
According to data provided by SpotonChain, a wallet known to belong to Amber Group, identified by the extension 0x011, purchased 5.106 million ENA valued at $4.66 million from Binance today (April 3) at an average price of $0.913.
This purchase follows Ethena’s recent Airdrop and the token’s notable rise, sparking great curiosity among investors.
While all this was happening, Ethena Labs conducted an airdrop on April 2, distributing ENA tokens worth $450 million to eligible wallets. The price of ENA continued to rise significantly after the airdrop event.
ENA Price on the Rise
The price of the Ethena token has seen a significant increase of 51.65% in the last 24 hours, trading at $0.9697 as of today.
During this period, the token’s market value increased by 55.99%, and the 24-hour trading volume surged by 228.71%, making ENA one of the most notable performers in the relatively positive crypto sector today.
On the other hand, the token’s derivative volume experienced an astonishing increase of 123354.81%, accompanied by an open interest rise of 8331.30%, indicating a strong upward trend for the token in the market.
As of today, Ethena ranks 75th in the market, showcasing its strong entry.
