The crypto world is always dotting our i’s and crossing our t’s on the sharp edge of volatility, huh? Nothing signifies this quite like what happened a couple weeks back with the $ENA liquidation event – a wild ride that took many by surprise and remains fresh in our minds. This event wasn’t just a big deal for the players involved, it also threw light on a number of best practices (and maybe some not-so-great practices) that can help both freelancers and companies that work with crypto mitigate the risks that come alongside the gains in the crypto world. The lessons we glean from this event and the strategies we come up with, will hopefully help us build a resilient path through the volatile landscape of trading.
What was $ENA’s fall? To recap, on October 22, 2025, there was a whale transaction on Hyperliquid. $2.91 million worth of $ENA was completely vacated after a quick 10% price drop. A simple fall? Maybe. But these were everything but simple transactions as two wallets holding 2/3 of $ENA were completely liquidated. This whale had over $70 million in position. Not your everyday lunch money, huh?
For crypto-friendly SMEs out there, there are a couple of takeaways that we should keep in mind:
Diversify Early and Often: Don’t get trapped in a single asset’s volatility; that’s a road trip to nowhere. The more diverse your portfolio, the better.
Runaway Before You Get Exposed: Establish limits! Why would you allow a whale’s reign over your entire stash? Start low and regulate.
Watch that Tap: Layered stop-loss orders can be a lifesaver; they’re like the valves you can turn on and off as necessary.
Stablecoin Payroll: For many of us, staying within the stablezone might be a worthy endeavor – a life of predictable expenses.
Polis Protects: Keep governance close, assets closer.
Convert Quickly: Move funds to fiat or stablecoins quickly so cash flow isn’t hit when you have to trim.
Cash Flow Isn’t Magical: You need liquidity.
Stay Compliant: Regulatory changes are a reality.
The $ENA liquidation wasn’t just a hiccup. It was a lesson and, hopefully, there is a way to build a better playing field for future traders. Stablecoins will become an even bigger part of the salary scene. Crypto banking for startups was already a thing. Time will tell how this will all shake out, but I’m curious.
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The $ENA liquidation event reveals critical lessons on risk management and trading strategies for crypto-friendly SMEs navigating market volatility.
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