Why is Ethena price down today, October 30?
AI summary
Ethena's ENA token dropped after a Binance hacker sold $33.93 million worth of ENA, creating notable sell pressure on the asset. Santiment noted that USDe supply saw limited movement during the sell-off, suggesting the stablecoin backing held relatively steady. Traders will watch whether the hacker-linked wallet continues offloading tokens and whether USDe supply shifts signal broader confidence in Ethena.
