{"id":131649,"date":"2026-08-09T09:04:49","date_gmt":"2026-08-09T07:04:49","guid":{"rendered":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/"},"modified":"2026-08-09T09:04:49","modified_gmt":"2026-08-09T07:04:49","slug":"ethena-price-drops-whale-buying-10-cent-resistance","status":"publish","type":"post","link":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/","title":{"rendered":"Ethena Falls 3.9% as Whale Buying Fails to Break $0.10 Resistance"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Ethena Drops 3.9% as Whale Buying Meets $0.10 Resistance \u2013 Exchange Inflows and Weak Volume Limit Upside<\/p>\n\n<span class=\"anchor\" id=\"key-takeaways\" title=\"Key Takeaways\"><\/span><h2 class=\"wp-block-heading\">Key Takeaways<\/h2>\n\n<ul class=\"wp-block-list\"><li>Ethena fell 3.9% in the past 24 hours, while daily trading volume declined by 41%.<\/li><li>Arthur Hayes reportedly bought 22.64 million ENA worth $2 million over five days.<\/li><li>A wallet linked to Amber Group acquired 38.89 million ENA valued at $3.58 million.<\/li><li>Exchange netflows show more ENA moving onto exchanges than leaving them.<\/li><li>Technical levels around $0.10 continue to act as resistance, with liquidation clusters concentrated in that area.<\/li><\/ul>\n\n<span class=\"anchor\" id=\"price-decline-and-falling-trading-volume-signal-reduced-market-activity\" title=\"Price Decline and Falling Trading Volume Signal Reduced Market Activity\"><\/span><h2 class=\"wp-block-heading\">Price Decline and Falling Trading Volume Signal Reduced Market Activity<\/h2>\n\n<p class=\"wp-block-paragraph\">Ethena traded 3.9% lower over the past 24 hours. At the same time, daily trading volume dropped by 41%, a sharp contraction compared with previous sessions. While such a decline in activity can appear significant, reduced participation over weekends often leads to thinner liquidity and lower volumes across crypto markets.<\/p>\n\n<p class=\"wp-block-paragraph\">For you as a market participant, declining volume during a price move can indicate limited conviction among buyers or sellers. In this case, the lower trading activity coincided with an inability to push the price beyond a key resistance level near $0.10.<\/p>\n\n<span class=\"anchor\" id=\"large-purchases-by-arthur-hayes-and-amber-linked-wallet\" title=\"Large Purchases by Arthur Hayes and Amber-Linked Wallet\"><\/span><h2 class=\"wp-block-heading\">Large Purchases by Arthur Hayes and Amber-Linked Wallet<\/h2>\n\n<p class=\"wp-block-paragraph\">Despite the short term price weakness, sizeable acquisitions were reported. BitMEX co-founder Arthur Hayes bought 22.64 million ENA over five days, with a reported value of $2 million. In addition, a wallet linked to Amber Group accumulated 38.89 million ENA, valued at $3.58 million.<\/p>\n\n<p class=\"wp-block-paragraph\">Such transactions are commonly described as whale accumulation, referring to large scale purchases by well funded entities or individuals. These transactions can draw attention because they signal capital inflows from prominent market participants. However, the presence of large buyers alone does not automatically translate into sustained upward price momentum.<\/p>\n\n<span class=\"anchor\" id=\"exchange-netflows-show-more-tokens-moving-onto-platforms\" title=\"Exchange Netflows Show More Tokens Moving Onto Platforms\"><\/span><h2 class=\"wp-block-heading\">Exchange Netflows Show More Tokens Moving Onto Platforms<\/h2>\n\n<p class=\"wp-block-paragraph\">At the same time, exchange netflow data indicates that more ENA moved onto exchanges than left them. This pattern is generally associated with potential selling pressure, as tokens transferred to exchanges are typically positioned for trading or liquidation.<\/p>\n\n<p class=\"wp-block-paragraph\">The imbalance between inflows and outflows suggests that demand has not been strong enough to absorb available supply. Even with notable whale purchases, broader market participation appears subdued. For you as a trader or investor, exchange netflows can provide additional insight into whether accumulation is being matched by reduced circulating supply on trading venues. In this case, the data points to continued availability of tokens on exchanges.<\/p>\n\n<span class=\"anchor\" id=\"technical-structure-remains-bearish-on-the-daily-timeframe\" title=\"Technical Structure Remains Bearish on the Daily Timeframe\"><\/span><h2 class=\"wp-block-heading\">Technical Structure Remains Bearish on the Daily Timeframe<\/h2>\n\n<p class=\"wp-block-paragraph\">On the 1 day timeframe, Ethena\u2019s swing structure remains bearish. The earlier drop from $0.14 to $0.07 in May and June defines the broader downward move. Fibonacci retracement levels drawn across that decline mark potential resistance zones overhead.<\/p>\n\n<p class=\"wp-block-paragraph\">The local high at $0.098 from mid June was tested during the recent rally but not cleared decisively. The round number at $0.10 has also acted as a psychological barrier. Repeated rejections in this region reinforce it as a resistance area.<\/p>\n\n<p class=\"wp-block-paragraph\">The On Balance Volume indicator shows relatively balanced buying and selling pressure. This balance supports the observation of weak demand, as there is no clear dominance by buyers. In such an environment, sustained rallies toward higher retracement levels become less likely unless demand strengthens.<\/p>\n\n<span class=\"anchor\" id=\"liquidation-heatmap-highlights-0-10-as-a-key-zone\" title=\"Liquidation Heatmap Highlights $0.10 as a Key Zone\"><\/span><h2 class=\"wp-block-heading\">Liquidation Heatmap Highlights $0.10 as a Key Zone<\/h2>\n\n<p class=\"wp-block-paragraph\">Liquidation data further underscores the importance of the $0.10 area. A dense cluster of short liquidations is positioned around this level. When price approaches such clusters, volatility can increase as leveraged positions are forced to close.<\/p>\n\n<p class=\"wp-block-paragraph\">Recent rejection from the $0.10 region over the past two days aligns with the broader resistance narrative. If price were to move above this level and trigger short liquidations, it could create a brief spike before sellers reassert control. Conversely, failure to clear the zone leaves the asset vulnerable to renewed downside pressure.<\/p>\n\n<p class=\"wp-block-paragraph\">Below the current range, $0.086 and $0.076 stand out as levels to monitor. In addition, a concentration of long liquidations is located around $0.07, forming what is described as a magnetic zone. Areas with clustered liquidations often attract price action because leveraged positions amplify market moves when thresholds are breached.<\/p>\n\n<span class=\"anchor\" id=\"our-assessment\" title=\"Our Assessment\"><\/span><h2 class=\"wp-block-heading\">Our Assessment<\/h2>\n\n<p class=\"wp-block-paragraph\">Ethena is currently trading below a well defined resistance zone near $0.10, following a 3.9% daily decline and a 41% drop in trading volume. Although large scale purchases by Arthur Hayes and a wallet linked to Amber Group indicate notable accumulation, exchange netflows show more tokens moving onto exchanges, pointing to ongoing supply availability.<\/p>\n\n<p class=\"wp-block-paragraph\">Technical indicators on the daily timeframe continue to reflect a bearish structure, with the $0.10 level acting as a significant barrier. Liquidation data highlights this zone as a concentration point for short positions, while lower levels around $0.086, $0.076, and $0.07 represent additional areas of interest based on liquidation clusters and prior price action. Together, these factors frame the current market environment for Ethena without yet indicating a confirmed shift in trend.<\/p>\n\n<div class=\"gambling-disclaimer\">\n\t<p>\n\t\tWe have imposed strict editorial guidelines on ourselves and explain our testing methods openly and comprehensively. We also communicate transparently how our work is financed. This site may contain tracking links, but this does not influence our objective view in any way.\t<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethena fell 3.9% while trading volume dropped 41%, despite reported whale purchases. Resistance at $0.10 and exchange inflows continue to shape price action.<\/p>\n","protected":false},"author":8,"featured_media":131648,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[],"tags":[],"news_crypto_coin":[],"class_list":["post-131649","post","type-post","status-publish","format-standard","has-post-thumbnail"],"acf":{"faqs":null,"sort_number":999,"sort_number_no_override":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethena Price Drops as $0.10 Caps Rally<\/title>\n<meta name=\"description\" content=\"Ethena declines 3.9% as whale accumulation meets resistance at $0.10. Exchange inflows and weak volume highlight ongoing market pressure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kryptocasinos.com EN\" \/>\n<meta property=\"og:description\" content=\"Ethena declines 3.9% as whale accumulation meets resistance at $0.10. Exchange inflows and weak volume highlight ongoing market pressure.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/\" \/>\n<meta property=\"og:site_name\" content=\"Kryptocasinos.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kryptocasinoscomm\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-09T07:04:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/08\/ethena-price-drops-whale-buying-10-cent-resistance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1408\" \/>\n\t<meta property=\"og:image:height\" content=\"736\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Isabella Brown\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Isabella Brown\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/\"},\"author\":{\"name\":\"Isabella Brown\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#\\\/schema\\\/person\\\/badee6a5ed8b6777da5bd380d112bcdc\"},\"headline\":\"Ethena Falls 3.9% as Whale Buying Fails to Break $0.10 Resistance\",\"datePublished\":\"2026-08-09T09:04:49+02:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/\"},\"wordCount\":784,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/ethena-price-drops-whale-buying-10-cent-resistance.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/#respond\"]}],\"description\":\"\",\"isAccessibleForFree\":true,\"articleBody\":\"Ethena Drops 3.9% as Whale Buying Meets $0.10 Resistance - Exchange Inflows and Weak Volume Limit Upside\\n\\nKey Takeaways\\n\\nEthena fell 3.9% in the past 24 hours, while daily trading volume declined by 41%.Arthur Hayes reportedly bought 22.64 million ENA worth $2 million over five days.A wallet linked to Amber Group acquired 38.89 million ENA valued at $3.58 million.Exchange netflows show more ENA moving onto exchanges than leaving them.Technical levels around $0.10 continue to act as resistance, with liquidation clusters concentrated in that area.\\n\\nPrice Decline and Falling Trading Volume Signal Reduced Market Activity\\n\\nEthena traded 3.9% lower over the past 24 hours. At the same time, daily trading volume dropped by 41%, a sharp contraction compared with previous sessions. While such a decline in activity can appear significant, reduced participation over weekends often leads to thinner liquidity and lower volumes across crypto markets.\\n\\nFor you as a market participant, declining volume during a price move can indicate limited conviction among buyers or sellers. In this case, the lower trading activity coincided with an inability to push the price beyond a key resistance level near $0.10.\\n\\nLarge Purchases by Arthur Hayes and Amber-Linked Wallet\\n\\nDespite the short term price weakness, sizeable acquisitions were reported. BitMEX co-founder Arthur Hayes bought 22.64 million ENA over five days, with a reported value of $2 million. In addition, a wallet linked to Amber Group accumulated 38.89 million ENA, valued at $3.58 million.\\n\\nSuch transactions are commonly described as whale accumulation, referring to large scale purchases by well funded entities or individuals. These transactions can draw attention because they signal capital inflows from prominent market participants. However, the presence of large buyers alone does not automatically translate into sustained upward price momentum.\\n\\nExchange Netflows Show More Tokens Moving Onto Platforms\\n\\nAt the same time, exchange netflow data indicates that more ENA moved onto exchanges than left them. This pattern is generally associated with potential selling pressure, as tokens transferred to exchanges are typically positioned for trading or liquidation.\\n\\nThe imbalance between inflows and outflows suggests that demand has not been strong enough to absorb available supply. Even with notable whale purchases, broader market participation appears subdued. For you as a trader or investor, exchange netflows can provide additional insight into whether accumulation is being matched by reduced circulating supply on trading venues. In this case, the data points to continued availability of tokens on exchanges.\\n\\nTechnical Structure Remains Bearish on the Daily Timeframe\\n\\nOn the 1 day timeframe, Ethena\u2019s swing structure remains bearish. The earlier drop from $0.14 to $0.07 in May and June defines the broader downward move. Fibonacci retracement levels drawn across that decline mark potential resistance zones overhead.\\n\\nThe local high at $0.098 from mid June was tested during the recent rally but not cleared decisively. The round number at $0.10 has also acted as a psychological barrier. Repeated rejections in this region reinforce it as a resistance area.\\n\\nThe On Balance Volume indicator shows relatively balanced buying and selling pressure. This balance supports the observation of weak demand, as there is no clear dominance by buyers. In such an environment, sustained rallies toward higher retracement levels become less likely unless demand strengthens.\\n\\nLiquidation Heatmap Highlights $0.10 as a Key Zone\\n\\nLiquidation data further underscores the importance of the $0.10 area. A dense cluster of short liquidations is positioned around this level. When price approaches such clusters, volatility can increase as leveraged positions are forced to close.\\n\\nRecent rejection from the $0.10 region over the past two days aligns with the broader resistance narrative. If price were to move above this level and trigger short liquidations, it could create a brief spike before sellers reassert control. Conversely, failure to clear the zone leaves the asset vulnerable to renewed downside pressure.\\n\\nBelow the current range, $0.086 and $0.076 stand out as levels to monitor. In addition, a concentration of long liquidations is located around $0.07, forming what is described as a magnetic zone. Areas with clustered liquidations often attract price action because leveraged positions amplify market moves when thresholds are breached.\\n\\nOur Assessment\\n\\nEthena is currently trading below a well defined resistance zone near $0.10, following a 3.9% daily decline and a 41% drop in trading volume. Although large scale purchases by Arthur Hayes and a wallet linked to Amber Group indicate notable accumulation, exchange netflows show more tokens moving onto exchanges, pointing to ongoing supply availability.\\n\\nTechnical indicators on the daily timeframe continue to reflect a bearish structure, with the $0.10 level acting as a significant barrier. Liquidation data highlights this zone as a concentration point for short positions, while lower levels around $0.086, $0.076, and $0.07 represent additional areas of interest based on liquidation clusters and prior price action. Together, these factors frame the current market environment for Ethena without yet indicating a confirmed shift in trend.\\n\\n\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/\",\"name\":\"Ethena Price Drops as $0.10 Caps Rally\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/ethena-price-drops-whale-buying-10-cent-resistance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/ethena-price-drops-whale-buying-10-cent-resistance.jpg\",\"datePublished\":\"2026-08-09T09:04:49+02:00\",\"description\":\"Ethena declines 3.9% as whale accumulation meets resistance at $0.10. 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Compare top Bitcoin gambling sites by payouts, bonuses, KYC, and supported coins, with hands-on testing.\",\"address\":{\"@type\":\"PostalAddress\",\"streetAddress\":\"557 Fuk Wing St\",\"addressLocality\":\"Cheung Sha Wan\",\"addressRegion\":\"HK\",\"postalCode\":\"999077\",\"addressCountry\":\"CN\"},\"contactPoint\":{\"@type\":\"ContactPoint\",\"email\":\"contact@kryptocasinos.com\"},\"foundingDate\":\"2021-03-27\",\"email\":\"hello@kryptocasinos.com\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"11\",\"maxValue\":\"50\"},\"publishingPrinciples\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/editorial-guidelines\\\/\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#\\\/schema\\\/person\\\/badee6a5ed8b6777da5bd380d112bcdc\",\"name\":\"Isabella Brown\",\"description\":\"Online Gambling, Greece and my dog Gringo are my three favorite things in my life. Before working for Kryptocasinos.com I was leading the content team of an iGaming Online magazine where I was focused on researching casinos, their licenses and the connection between the members of the industry.\",\"birthDate\":\"1995-02-13\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/author\\\/isabella\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ethena Price Drops as $0.10 Caps Rally","description":"Ethena declines 3.9% as whale accumulation meets resistance at $0.10. Exchange inflows and weak volume highlight ongoing market pressure.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/","og_type":"article","og_title":"Kryptocasinos.com EN","og_description":"Ethena declines 3.9% as whale accumulation meets resistance at $0.10. Exchange inflows and weak volume highlight ongoing market pressure.","og_url":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/","og_site_name":"Kryptocasinos.com","article_publisher":"https:\/\/www.facebook.com\/kryptocasinoscomm\/","article_published_time":"2026-08-09T07:04:49+00:00","og_image":[{"width":1408,"height":736,"url":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/08\/ethena-price-drops-whale-buying-10-cent-resistance.jpg","type":"image\/jpeg"}],"author":"Isabella Brown","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Isabella Brown","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/#article","isPartOf":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/"},"author":{"name":"Isabella Brown","@id":"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/person\/badee6a5ed8b6777da5bd380d112bcdc"},"headline":"Ethena Falls 3.9% as Whale Buying Fails to Break $0.10 Resistance","datePublished":"2026-08-09T09:04:49+02:00","mainEntityOfPage":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/"},"wordCount":784,"commentCount":0,"publisher":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#organization"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/08\/ethena-price-drops-whale-buying-10-cent-resistance.jpg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/#respond"]}],"description":"","isAccessibleForFree":true,"articleBody":"Ethena Drops 3.9% as Whale Buying Meets $0.10 Resistance - Exchange Inflows and Weak Volume Limit Upside\n\nKey Takeaways\n\nEthena fell 3.9% in the past 24 hours, while daily trading volume declined by 41%.Arthur Hayes reportedly bought 22.64 million ENA worth $2 million over five days.A wallet linked to Amber Group acquired 38.89 million ENA valued at $3.58 million.Exchange netflows show more ENA moving onto exchanges than leaving them.Technical levels around $0.10 continue to act as resistance, with liquidation clusters concentrated in that area.\n\nPrice Decline and Falling Trading Volume Signal Reduced Market Activity\n\nEthena traded 3.9% lower over the past 24 hours. At the same time, daily trading volume dropped by 41%, a sharp contraction compared with previous sessions. While such a decline in activity can appear significant, reduced participation over weekends often leads to thinner liquidity and lower volumes across crypto markets.\n\nFor you as a market participant, declining volume during a price move can indicate limited conviction among buyers or sellers. In this case, the lower trading activity coincided with an inability to push the price beyond a key resistance level near $0.10.\n\nLarge Purchases by Arthur Hayes and Amber-Linked Wallet\n\nDespite the short term price weakness, sizeable acquisitions were reported. BitMEX co-founder Arthur Hayes bought 22.64 million ENA over five days, with a reported value of $2 million. In addition, a wallet linked to Amber Group accumulated 38.89 million ENA, valued at $3.58 million.\n\nSuch transactions are commonly described as whale accumulation, referring to large scale purchases by well funded entities or individuals. These transactions can draw attention because they signal capital inflows from prominent market participants. However, the presence of large buyers alone does not automatically translate into sustained upward price momentum.\n\nExchange Netflows Show More Tokens Moving Onto Platforms\n\nAt the same time, exchange netflow data indicates that more ENA moved onto exchanges than left them. This pattern is generally associated with potential selling pressure, as tokens transferred to exchanges are typically positioned for trading or liquidation.\n\nThe imbalance between inflows and outflows suggests that demand has not been strong enough to absorb available supply. Even with notable whale purchases, broader market participation appears subdued. For you as a trader or investor, exchange netflows can provide additional insight into whether accumulation is being matched by reduced circulating supply on trading venues. In this case, the data points to continued availability of tokens on exchanges.\n\nTechnical Structure Remains Bearish on the Daily Timeframe\n\nOn the 1 day timeframe, Ethena\u2019s swing structure remains bearish. The earlier drop from $0.14 to $0.07 in May and June defines the broader downward move. Fibonacci retracement levels drawn across that decline mark potential resistance zones overhead.\n\nThe local high at $0.098 from mid June was tested during the recent rally but not cleared decisively. The round number at $0.10 has also acted as a psychological barrier. Repeated rejections in this region reinforce it as a resistance area.\n\nThe On Balance Volume indicator shows relatively balanced buying and selling pressure. This balance supports the observation of weak demand, as there is no clear dominance by buyers. In such an environment, sustained rallies toward higher retracement levels become less likely unless demand strengthens.\n\nLiquidation Heatmap Highlights $0.10 as a Key Zone\n\nLiquidation data further underscores the importance of the $0.10 area. A dense cluster of short liquidations is positioned around this level. When price approaches such clusters, volatility can increase as leveraged positions are forced to close.\n\nRecent rejection from the $0.10 region over the past two days aligns with the broader resistance narrative. If price were to move above this level and trigger short liquidations, it could create a brief spike before sellers reassert control. Conversely, failure to clear the zone leaves the asset vulnerable to renewed downside pressure.\n\nBelow the current range, $0.086 and $0.076 stand out as levels to monitor. In addition, a concentration of long liquidations is located around $0.07, forming what is described as a magnetic zone. Areas with clustered liquidations often attract price action because leveraged positions amplify market moves when thresholds are breached.\n\nOur Assessment\n\nEthena is currently trading below a well defined resistance zone near $0.10, following a 3.9% daily decline and a 41% drop in trading volume. Although large scale purchases by Arthur Hayes and a wallet linked to Amber Group indicate notable accumulation, exchange netflows show more tokens moving onto exchanges, pointing to ongoing supply availability.\n\nTechnical indicators on the daily timeframe continue to reflect a bearish structure, with the $0.10 level acting as a significant barrier. Liquidation data highlights this zone as a concentration point for short positions, while lower levels around $0.086, $0.076, and $0.07 represent additional areas of interest based on liquidation clusters and prior price action. Together, these factors frame the current market environment for Ethena without yet indicating a confirmed shift in trend.\n\n"},{"@type":"WebPage","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/","url":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/","name":"Ethena Price Drops as $0.10 Caps Rally","isPartOf":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/#primaryimage"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/ethena-price-drops-whale-buying-10-cent-resistance\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/08\/ethena-price-drops-whale-buying-10-cent-resistance.jpg","datePublished":"2026-08-09T09:04:49+02:00","description":"Ethena declines 3.9% as whale accumulation meets resistance at $0.10. 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