The Ecena-linked multi-signature (multi-signa) wallet, which had not been trading for about 400 days, showed significant activity yesterday.
According to on-chain data, 15 million ENA tokens have been sent from the wallet in two directions of cryptocurrency exchanges. The market value of the transfer was approximately $9.64 million.
The overall balance of the wallet is impressive. The 360 million ENA tokens, or approximately $237.6 million, are still held at this address. Transactions have been carried out on the Ethereum Network, and only very small ETH movements have been observed recently.
The move comes after a long period of inactivity, sparking speculation within the community, and some suggest that developers are trying to capitalize on the recent surge in ENA prices.
One of the most popular altcoins in recent months, ENA has traded 56% lower than the all-time high of $1.52, set a year ago.
There are claims that Ecena could become the new Terraus in the market as it promises a high stubcoin return, but if a collapse occurs it could not have the same impact as the approximately $90 billion Terra ecosystem.
*This is not investment advice.