Ethena's native token ENA faced selling pressure, dropping 7.27% to $0.23. To counter the sell-off, the project team purchased 50 million ENA within 24 hours, worth $12.18 million, increasing their wallet holdings to 789.8 million ENA (valued at $185 million). Other large holders also followed suit and increased their holdings. However, retail investors sold aggressively, with the buy/sell delta (Buy/Sell Delta) being negative $6.85 million, causing ENA to break below a key technical level and threatening further decline to the $0.20 support level.