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Ethena (ENA) price drops 15.76% amid heavy sell pressure and wash trading on exchanges

Technical Signals
12 Oct 2026
Coincu
View Source
Bearish
Ethena (ENA) price drops 15.76% amid heavy sell pressure and wash trading on exchanges

Ethena (ENA) price fell 15.76% to $0.201476 on October 13, 2026, driven by net inflows of 1.45 million tokens to centralized exchanges, signaling strong selling pressure. On-chain data reveals that 79.4% of reported trading volume is wash trading, inflating liquidity figures and masking true demand. The token's mintable contract poses dilution risks, and a major market maker is currently at a loss, reducing price support. Traders should watch if inflows continue, which would confirm ongoing distribution rather than accumulation.

As of Oct 13, 2026 08:21 WIB, Ethena (ENA) trades on Pluang at Rp3.692, down 13.82% in one day, showing significant selling pressure consistent with the article's report. The token's market cap stands at Rp49,26 trillion with a 24-hour trading volume of Rp9,83 trillion. Pluang data also shows a high sell order activity of 57%, reflecting cautious sentiment among traders. The typical hold time on Pluang is 44 days, indicating moderate investor patience.

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