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06/24 04:30
Ethena Price Under Pressure as 300M ENA Reaches Exchanges
Daily active addresses climbed to the highest level since 2025.
ENA must hold above $0.0849 to avoid further downside.
Ethena is sending mixed signals to investors as rising user activity clashes with increasing exchange inflows. The Ethena Price fell 7.66% over the past 24 hours to $0.0861, even as the protocol recorded some of its strongest on-chain metrics in months. Recent data shared by analyst Ali Charts shows more than 300 million ENA tokens have been deposited into trading platforms during the past month, raising questions about potential selling pressure.
Ethena Price Under Pressure From Rising Exchange Deposits
The latest decline in Ethena Price comes as substantial amounts of the ENA token move onto centralized trading venues. According to Ali Charts, over 300 million ENA have been transferred to exchanges during the last 30 days.
More than 300 million Ethena $ENA have been deposited into trading platforms over the past month. https://t.co/ddVKNjvH13 pic.twitter.com/64FnstPGK0
— Ali Charts (@alicharts) June 23, 2026
Large exchange deposits often attract attention because they can increase available supply in the market. While transfers do not automatically indicate selling, traders frequently view them as a sign that holders may be preparing to reduce positions.
The recent inflows arrive during a period of heightened volatility across digital assets. As a result, market participants are closely monitoring whether the additional supply affects short-term price action.
At press time, Ethena Price traded near $0.0861. Technical traders are watching the recent low around $0.0849. Holding that level could help stabilize market sentiment, while a break below may expose the token to a move toward the $0.08 region.
Ethena Price Supported by Strong On-Chain Activity
Despite weakness in the market, network metrics continue to paint a more constructive picture. Recent data shows that on-chain activity has accelerated sharply across the Ethena ecosystem.
Daily active addresses climbed to 5,057, marking the highest level of network utilization since November 2025. The increase suggests stronger engagement from existing users while new participants continue entering the platform.
In digital asset markets, rising user activity often serves as a leading indicator of ecosystem growth. However, price performance does not always move in tandem with network expansion, particularly when exchange inflows increase at the same time.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
The post Ethena Price Under Pressure as 300M ENA Reaches Exchanges first appeared on Coin Crypto Newz.
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