ENA Price Heats Up Ahead of Unlock
Ethena’s ENA token is on fire as it nears a major unlock in just an hour. The price has climbed 4.66% in the last 24 hours, currently sitting at $0.4170, with its market cap hitting $2.2 billion. Trading volume has also surged 17.35% to $231.46 million, as traders brace for impact.
What’s Being Unlocked?
This event will introduce 7.93 million ENA tokens into circulation, valued at around $3.29 million. While this amount alone might not be a game-changer, the real concern lies ahead—a massive cliff unlock is coming soon.
A total of 7.93 million of the token, worth $3.29 billion, is about to flood the market. That’s huge, and traders are watching closely to see if the token will hold its ground or face a wave of sell-offs.
How Much ENA Is Still Locked?
- 51.32% (7.70B ) is still locked.
- 35.19% (5.28B ) is already in circulation.
- 13.49% (2.02B ) is “TBD locked” with an uncertain release date.
Who Holds the Supply?
- 25% – Private investors
- 30% – Team, advisors, and contractors
- 17.5% – Ecosystem incentives
- 15% – Foundation
- 12.5% – Airdrops and bounties
The Bigger Picture: Ethena’s Synthetic Dollar Vision
It isn’t just about the token—it’s building a synthetic dollar protocol on Ethereum. Their key product, the Internet Bond, aims to be a crypto alternative to traditional savings.
But for now, all eyes are on this massive token unlock. With billions of tokens about to hit the market, the big question remains—will the price keep rising, or is a major dump coming?
Also Read: Lightchain AI Nears $20M Presale as Mainnet Launch Approaches!
