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Ethereum-focused altcoin Ethena (ENA) has started to gain momentum in the wallets of important institutions.
While institutional activity continues in the cryptocurrency market, a wallet thought to belong to Arca received approximately 3.64 million dollars worth of 9.05 million Ethena (ENA) through Flowdesk. With this transaction, the Arca-linked wallet made its third ENA investment in the last year.
According to data shared by Spot On Chain, the mentioned wallet had previously made ENA transactions twice and had obtained a total of 1.46 million dollars (%14.6 profit) from these transactions. The success rate of the transactions made by this wallet was measured at %50.
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The developer team behind the Ethena (ENA) token, Ethena Labs, had previously partnered with former US President Donald Trump’s cryptocurrency project Winning Life Financial (WLFI). In addition to this notable collaboration, Ethena Labs also made a direct ENA investment in Trump’s project.
These developments are expected to increase interest in Ethena, particularly among US-based investors and institutions, and to positively affect ENA’s market value and trading volume. The recent major purchase transaction is interpreted by market analysts as a positive signal for the future of Ethena.
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