According to data released by YZi Labs, on October 13 the 4,785,490 ENA tokens were transferred to a dedicated Binance address. Applying the market valuation at that time yields about $1,013.65 per token, giving a total of roughly $502 million. Even immediately after the transfer, the same address still contained 26,800,000 remaining tokens.
WU Blockchain traced the transactions from that address and re‑created records showing that between 10:54:59 AM and 22:26:59 PM there were 40 transfers of ENA into a Binance deposit wallet. The price applied at each transfer reflected market variation, but simply depositing tokens does not allow one to judge whether they will be sold.
YZi Labs also announced that the same address participated in Etana’s $14‑million investment round in February 2024. After that funding, the company was valued at about $300 million (roughly 400 billion KRW).
Etana disclosed on October 5 that it had begun releasing some of its previously locked tokens to existing investors. However, the release schedule, amounts and how this relates to the deposit address have not yet been clarified. Consequently, it remains uncertain when or how the tokens held by that address will be released.