Ethena

<p>In a notable development within the crypto sector, Anchorage Digital has seen a huge withdrawal. As per Spot On Chain, the digital asset custodian Anchorage Digital redeemed $3.96M in $ENA tokens from Binance. The analytics provider revealed this development on its official X account.</p><h2 id="header-0">Anchorage Digital Redeems 10.7M $ENA from Binance</h2><p>Spot On Chain pointed out that Anchorage Digital’s withdrawal of $3.96M in $ENA coins from Binance denotes a major development for the platform. The transfer reportedly took place nearly 8 hours back, with Anchorage Digital leveraging a unique wallet address for this purpose. The withdrawal denotes the biggest transaction of Anchorage Digital involving $ENA up till now. Hence, the move represents the token’s growing importance in the firm’s portfolio.</p><p>The platform, famous for offering secure custody solutions for digital assets, has recently been making noteworthy crypto investments. Nonetheless, the move to accumulate the $ENA tokens at such a large scale specifically gains huge attention across the <a href="https://blockchainreporter.net/market/" rel="noopener noreferrer nofollow">market</a>. As a result of this, $ENA has taken a prominent position among the top-held assets in Anchorage.</p><h2 id="header-1">Despite $ENA’s 43% Decline, Anchorage Digital’s Investment Mirrors Its Trust in the Token</h2><p>Since $ENA’s launch back in April this year, it has been going under pressure. In this respect, the token has experienced a 43% decline. This dip has raised concerns about the long-term viability of $ENA and its recovery potential. Irrespective of these challenges, the enormous investment from <a href="https://www.anchorage.com/" rel="noopener noreferrer nofollow">Anchorage Digital</a> may mirror its belief in the future growth of the token.</p>

Anchorage Digital Withdraws $3.96M in $ENA from Binance

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