$100M
ERC-20 Token
0xc39a5a616f0ad1ff45077fa2de3f79ab8eb8b8b9
➔
Capital shifting between wallets, neutral flow change. $100M USDC moved from ERC-20 Token to Ethena on Ethereum. Monitor follow-up routing to distinguish internal treasury rotation, market-maker rebalancing, bridge settlement, and true directional position change. Low priority whale flow: treat as context unless similar transfers repeat.