Ethena (ENA) faces uncertainty pricing following Donald Trump’s World Liberty Financial (WLFI) selling of a massive 184,000 ENA tokens. Selling pressure related to this move has made investors fear that prices will go lower.
Although Ethena’s price has risen by over 7% this week, worry has spread through the crypto ranks after WLFI made a surprise selloff. Warning about lack of trust in ENA future, WLFI sold these tokens for $69,000 according to Arkham Intelligence data. Investors are left wondering whether more sales are in the pipeline and whether anything will affect the price.
The worries only added up when the crypto market witnessed another major player, the Amber Group, selloff $10 million ENA. And on top of that, millions of new ENA tokens will be distributed to the market in early April. This brings even more instability into the prices of coins if there are more coins in circulation.
However, despite these concerns, Ethena’s price has remained quite strong. Currently, ENA is equal to $0.3989. In the last 24 hours, it has increased by 1%. Nevertheless, in the past month it has declined by 10%, experiencing market struggles.
Some experts believe that Ethena would still recover. Byzantine General, a well-known trader, noted that ENA’s funding rate is no longer negative and that is why a price rebound may be on the way. But the future is uncertain, and investors are anxiously waiting to see what happens next.
Also read: Ethereum’s Price Drop Signals Trouble – What’s Next for ETH?
