Two wallets suspected of being linked to the Ethena project deposited 19 million ENA, worth about $3.29 million, to Bybit over 15 hours, according to on-chain analyst Ai Yi (@ai_9684xtpa). The transfers bring the total value of ENA moved by Ethena-linked addresses to exchanges over the past three days to $6.75 million. The addresses received ENA from an Ethena multisig address about two years ago and showed little activity before recently moving funds to exchanges. Such deposits are commonly interpreted as potential preparations for selling, although the transfers do not establish the wallets' intent.