Ethena price has fallen 7.26% to $0.18653 on October 30 after the attacker behind Binance’s $6.3 billion security breach reportedly sold 217.5 million ENA tokens worth $33.93 million. Summary
Ethena price has fallen 7.26% to $0.18653 on October 30 after the attacker behind Binance’s $6.3 billion security breach reportedly sold 217.5 million ENA tokens worth $33.93 million.
SummaryAccording to Lookonchain, the hacker exchanged the stolen ENA for Ethereum at an average price near $0.16, alongside six other cryptocurrencies. The combined sales generated 70,480 ETH worth $158.25 million, with UNI and PEPE among the largest positions.
ENA traded between $0.166247 and $0.217081 over the past 24 hours, with volume reaching $1.38 billion. Despite recovering from its intraday low, the token remains down 27.86% over the past month.
The attack triggered heavy trading across several altcoins as the hacker converted stolen assets into ETH.
Beyond ENA, the attacker sold 7.02 million UNI for $39.63 million and 7.77 trillion PEPE for $31.66 million. LINK, AAVE, ONDO and WLD were included in the transactions.
As crypto.news reported earlier today, the October 29 breach involved an Ethereum wallet authorization mechanism that allowed attackers to redirect funds from a Binance hot wallet.
Blockchain investigators have linked the incident to North Korean cybercriminals, although Binance’s investigation into the full attack remains ongoing.
You might also like: Ethena price jumps 8% despite Arthur Hayes’ $2.7M ENA sale
The selling coincided with falling cryptocurrency prices across the market. Bitcoin lost more than 3% during the period, while the total cryptocurrency market capitalization declined by roughly the same amount.
Following the ENA sales, Lookonchain identified another wallet that deposited 2 million USDC into Hyperliquid and opened a leveraged long position covering 22.78 million ENA.
The position was valued at $4.09 million and carried three times leverage. It represented a bet on higher prices, although the transaction alone does not establish that selling pressure has ended.
While ENA suffered heavy losses, blockchain analytics firm Santiment found that Ethena’s USDe stablecoin experienced much smaller movements.
In its October 30 analysis, Santiment reported that ENA fell more than 16% during the four-hour period surrounding the Binance breach, compared with a decline of around 4% for Ethereum.
The governance token recorded its lowest four-hour closing price since September 18. USDe, meanwhile, briefly slipped to $0.9974 at 04:00 UTC on October 30.
Ethena’s governance token $ENA fell more than 16% in the 4h window that contained the Oct 29 Binance hack. USDe, Ethena’s dollar, slipped about 0.2%.📉 $ENA hit its lowest 4h close since Sep 18, while ETH fell about 4% over the same window.🧭 USDe dipped to $0.9974 at 04:00… pic.twitter.com/JYl1bgRTJn
— Santiment Intelligence (@SantimentData) October 30, 2026
Despite trading slightly below its intended dollar value, USDe did not experience an equivalent decline in circulating supply.
Santiment reported that USDe supply on Ethereum changed by roughly $1.5 million during the attack, compared with a typical daily movement of around $21 million.
Staked USDe, known as sUSDe, recorded a supply decline of approximately 1.1%. Its transfer activity increased but remained below the highest levels recorded since May.
Ethena had previously said its collateral exposed to centralized exchanges was held through off-exchange custody arrangements, with core USDe minting and redemption functions remaining operational.
The daily chart continues to show weakness despite ENA’s recovery from the $0.1658 area.
Its Know Sure Thing indicator stood at -86.53, below the signal line at -42.52. The negative readings suggest that the latest rebound has not yet reversed the prevailing downward momentum.
The Aroon Oscillator registered -64.29, providing another indication that recent lows continue to dominate the price trend.
Ethena price chart, source: crypto.news
Immediate resistance stands near $0.20, followed by 0.21–0.22. A sustained move above $0.22 could open the way toward 0.24–0.25, while losing $0.1658 would expose $0.15 and $0.14.
Just 2 days ago, analyst Ali Martinez identified a descending channel on ENA’s four-hour chart. He suggested that a close above $0.22 could support a move toward $0.24 or $0.27.
However, Martinez warned that failure to overcome resistance could send ENA toward the channel’s midpoint near $0.18.
Beyond the immediate selling, ENA’s price remains tied to changes in Ethena’s token economics.
In August, the foundation proposed directing 95% of net revenue from Ethena-branded businesses toward ENA repurchases once USDe supply reaches $7.5 billion.
USDe supply was below $5 billion at the time, leaving the proposed threshold unmet.
The foundation had purchased locked ENA from selected early investors and proposed changes to the remaining investor unlock schedule.
Meanwhile, StablecoinX’s revised agreement removed contractual lockups on its ENA holdings in October, while retaining foundation approval requirements for certain sales.
Under the arrangement, StablecoinX must provide advance notice of proposed funding-related token sales, allowing the foundation five days to consider purchasing the tokens itself.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Read more: Strategy’s Bitcoin plan faces November 11 index decision
