According to @EmberCN, a significant $ENA whale may be exiting their position. Between April 10 and April 15, the whale withdrew 23.239 million ENA (worth $30 million) from Binance at an average price of $1.29 per ENA and staked them in Ethena. Thirty minutes ago, the whale redeemed all their ENA from Ethena and transferred 8.34 million ENA (worth $6.19 million) back to Binance, possibly preparing to sell. Given the current ENA price of $0.74, the whale is facing substantial losses.