On November 12, 2026, TechFlow reported that, according to Lookonchain, address 0x3C71 had transferred its remaining 102 million ENA, valued at approximately $15.6 million, to Coinbase over the preceding two days. The transfers emptied the address’s reported ENA holdings, but an exchange deposit does not by itself establish that the tokens were sold.
According to the report, the address received 142.92 million ENA from Ethena roughly two years earlier, when the tokens were valued at about $69.69 million. Lookonchain said the address had sold the tokens at an average price of approximately $0.24; applying that price to 142.92 million ENA gives an estimated $34.3 million in cumulative sales.
Those figures should not be read as a confirmed realized return. TechFlow noted that whether all the recently transferred ENA had been sold still required confirmation. The reported $69.69 million is the tokens’ value when received, not an established purchase cost. The address-level activity also does not, on its own, establish a valuation for ENA.
Original report: TechFlow · Published November 12, 2026, at 11:45 a.m. (UTC+8).