Blockchain tracking firm Lookonchain says a crypto trader is looking at massive losses after one decentralized finance (DeFi) project underwent a severe correction. According to Lookonchain, a crypto whale sold nearly 18 million Ethena ( ENA ), a synthetic dollar protocol built on Ethereum ( ETH ), for a loss of more than $12 million after the altcoin plunged below $1. “A whale sold off all ENA and lost over $12 million! This whale unstaked 17.87 million ENA ($8.78 million) [on Monday] and deposited it to Binance. The whale had accumulated these ENA on Binance at an average price of $1.17, resulting in a loss of over $12 million.” ENA is trading for $0.4484 at time of writing, down 4.6% in the last 24 hours. Next up, Lookonchain reports that crypto whales are buying up top altcoin Ethereum as its price chops around $2,600. “It seems that whales are accumulating ETH! 0xb99a…BcF5 withdrew 56,909 ETH ($151.6 million) from Binance [Monday]. 0xEd0C…4312 withdrew 64,603 ETH ($171.8 million) from Binance and Bitfinex [over the weekend].” US President Trump’s crypto project World Liberty Financial (WLFI) is also buying more ETH as well as layer-2 project Movement ( MOVE ), according to Lookonchain. “Trump’s World Liberty bought another 3,191 ETH ($10M) and 2.4 million MOVE ($1.88 million) [on January 28th… Trump’s World Liberty just spent 156,667 USDC to buy 273,937 MOVE again [on Monday].” ETH is trading for $2,604 at time of writing, down 2.1% in the last 24 hours. Meanwhile, MOVE is trading for $0.5416 at time of writing, down 1.6% on the day. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Whale Loses $12,000,000 Selling Ethena (ENA) After Major Price Correction: Lookonchain appeared first on The Daily Hodl .
