{"id":276714,"date":"2024-04-03T17:56:55","date_gmt":"2024-04-03T12:26:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=276714"},"modified":"2024-04-03T17:56:55","modified_gmt":"2024-04-03T12:26:55","slug":"market-maker-amber-group-withdraws-5-mln-ena-from-binance-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/market-maker-amber-group-withdraws-5-mln-ena-from-binance-crypto-news\/","title":{"rendered":"Market Maker Amber Group Withdraws 5 Mln ENA From Binance – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Against the backdrop of a downturn witnessed by cryptocurrencies due to market corrections, ENA, the native cryptocurrency of the Ethereum-based synthetic dollar protocol Ethena, amassed substantial attention among crypto market enthusiasts globally today, as its price showcased a phenomenal rally. Amid the buzz curated with Ethena\u2019s substantial price rally, Amber Group, a global digital finance leader, accumulated staggering amounts of ENA from a CEX, further diversifying its crypto investment portfolio.<\/p>\n

This move by the market maker stirred a whirlpool of speculations among crypto market traders and investors, questioning the massive accumulation\u2019s impact on the token\u2019s price action ahead.<\/p>\n

<\/p>\n

Amber Group is a renowned market maker in the digital asset sector, offering liquidity to the crypto market by continuously buying and selling digital assets. With the firm\u2019s massive ENA accumulation surfacing today, investors expect improved market efficiency and reduced price volatility for the token.<\/p>\n

A Closer Look Into Amber Group\u2019s ENA Accumulation<\/h2>\n

According to the insights revealed by SpotonChain, the wallet linked to Amber Group, going by the address 0x011, withdrew 5.106 million ENA, worth $4.66 million, from Binance at $0.913 today, April 3. This move sparked immense curiosity among investors as it follows the token\u2019s recent remarkable price rally that came in tandem with Ethena\u2019s Airdrop<\/a>.<\/p>\n

\n

Wallet 0x011 (likely @ambergroup_io<\/a>) has withdrawn 5.106M $ENA<\/a> ($4.66M) from #Binance<\/a> at ~$0.913 in the past 2 hours.<\/p>\n

<\/p>\n

The $ENA<\/a> price has surged nearly 45% after going live yesterday!<\/p>\n

Follow @spotonchain<\/a> and turn on your \ud83d\udd14 at https:\/\/t.co\/iR9FkTBPJC<\/a> pic.twitter.com\/IxCOeyxf2k<\/a><\/p>\n

\u2014 Spot On Chain (@spotonchain) April 3, 2024<\/a><\/p>\n<\/blockquote>\n

The much-awaited Ethena Labs airdrop reportedly kicked off on April 2, dispersing $450 million worth of ENA tokens to eligible wallets. Following the completion of this airdrop event, ENA continued to pump remarkably, birthing market optimism for the token.<\/p>\n

<\/p>\n

Meanwhile, with the market maker\u2019s substantial accumulation further weighing in, a potential cushioned effect on price remains poised as the token\u2019s supply on exchanges takes a hit. Additionally, as mentioned above, as the market maker offers more liquidity to the ENA token, a plethora of bullish trends, encompassing increased trading volume, reduced price volatility, increased market depth, etc., add a splash of optimism to the token.<\/p>\n

Also Read: Robinhood Lists Optimism For EU Users, OP Price To Rally?<\/a><\/strong><\/p>\n

ENA Price Soars<\/h2>\n

As of writing, the Ethena token\u2019s price<\/a> noted a substantial 55.96% uptick in the past 24 hours and is currently trading at $0.9297. Followed by a 55.99% upswing in the token\u2019s market cap and a 228.71% upsurge in the 24-hour trading volume, ENA further anchored its positioning with bullishness today.<\/p>\n

<\/p>\n

Meanwhile, a staggering 123354.81% surge in the token\u2019s derivatives<\/a> volume, further escorted by an open interest surge of 8331.30%, prevailed, indicating a strong uptrend for the token in the market.<\/p>\n

Also Read: Lithuania Set to Weed Out Crypto Firms, Few Expected to Scale Full Permits<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Important Highlights from the Recent Fed Meeting <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"ChatGPT's<\/div>\n
ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Against the backdrop of a downturn witnessed by cryptocurrencies due to market corrections, ENA, the native cryptocurrency of the Ethereum-based synthetic dollar protocol Ethena, amassed substantial attention among crypto market enthusiasts globally today, as its price showcased a phenomenal rally. Amid the buzz curated with Ethena\u2019s substantial price rally, Amber Group, a global digital finance […]<\/p>\n","protected":false},"author":2,"featured_media":276715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-276714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/276714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=276714"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/276714\/revisions"}],"predecessor-version":[{"id":276717,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/276714\/revisions\/276717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/276715"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=276714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=276714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=276714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}