Ethena: Smart money, future batteries are sold: How will the Ena merchants go?

Key control

Smart Money led $ 1.2 million in Ena, together with $ 4.8 million new wallets. Could the clash between the buyers of convictions and the profits decide their next great movement?

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In the last 24 hours, Ethena [ENA] 7.75%fell, erasing almost half of its 15%days earnings. Meanwhile, intelligent money has been building silent exposure, hinting at a deeper story behind the latest Ena movements.

This occurred in the midst of liquidity rotation and a fight between point and derivative investors. Ambcrypto’s analysis shows how these flows shaped Ena’s trajectory.

Smart Money requires a bold bet in ENA

Intelligent money, often recognized for making profitable bets when assets are considered undervalued, has taken a bold position in ENA.

During the last period of 7 days, this group financed the market with tickets of $ 1.2 million; A sign may have been undervalued.

Intelligent money was not the only one to take this bet. Nansen’s analysis reported that the new wallets also joined during this period.

Buyers for the first time financed the market with purchases of ENA worth $ 4.8 million, which further confirms the possible undervaluation.

This level of activity adds weight to the general upward perspective for the price of the token.

Spot investors bet hard

Spot investors contributed the strongest upward effect to ENA’s prices yield.

According to Coinglass, Spot Exchange Netflow registered a significant demand within the 7 -day window.

During this period, the total tickets reached $ 46.45 million, since investors moved their exchanges tokens to private wallets.

This activity suggests a reduced sales pressure and points to a stronger accumulation.

In addition, the accumulation distribution indicator confirmed that a massive accumulation also took place, which shows 1.39 billion absorbed ENA.

Together, intelligent money, Spot investors and new wallets pointed out the conviction that ENA remained a purchase.

That said, derivative investors have played an important role in the weakest performance configuration of ENA on the last day.

Derivative investors go against ENA

The recent daily decrease was promoted by derivative investors who closed a large part of their positions.

Coinglase data showed that open interest fell by 7.54%, falling to $ 1.25 billion. This was translated into an exit of $ 94 million in contracts.

The decrease in open interest corresponded to an increase in the volume of sale of derivatives, confirming a short -term bearish bias.

At the same time, the analysis of the liquidation heat map paints a more nuanced image.

The groups were formed above and below the current price, but the heaviest bands sat up, and that, in turn, suggested that an upward break could maintain a longer impulse.

Although the short -term pressure came from the outcome of profits and the derivative flows, the intelligent money and the new wallets continued to stack in AA, a configuration that favors the bulls if the impulse breaks up.