Oh, what a day in the land of Ethena (ENA)! 💩 The value has taken a tumble, down 16% in the last 24 hours to a mere $0.3012. 🙈 And just when you thought it couldn’t get more exciting, the trading volume has sky-rocketed by 110.42%, hitting a whopping $301.81 million. 🎉 Traders, it seems, are gearing up for the grand unveiling – the token unlock event! 🥁
Mark your calendars, folks! On April 5 at 07:00 AM UTC, a whopping 171.88 million ENA tokens, valued at around $52.98 million, will be let loose like a pack of wild horses. 🐎 This accounts for a hefty 3.25% of the circulating supply, potentially causing a stir in the already choppy waters of price dynamics. 🌊
Let’s take a peek at Ethena’s token distribution, shall we? 🕵️♂️
- 7.65 billion ENA (51%) are still locked away like a secret treasure. 🗝️
- 2.02 billion ENA (13.49%) are yet to be determined – the mystery deepens! 🔍
- 5.33 billion ENA (35.51%) have already been unlocked and are out there, somewhere. 🚪
Just three days ago, on April 2, 40.63 million ENA tokens, worth $12.52 million, were unleashed upon the world. 🦁 That was a mere 0.77% of the circulating supply, but oh boy, did it make waves in the price action ocean! 🌊
But wait, there’s more! The entire crypto market is feeling the pinch. The global crypto market cap has taken a nosedive, down 2.48% to $2.65 trillion. 😱 Bitcoin has slipped below $83,000, and Ethereum has dipped under $1,800. The cause? Fresh uncertainty, thanks to Donald Trump’s tariff policies, stirring up trouble across financial markets. 🤔
For the uninitiated, Ethena is a synthetic dollar protocol built on Ethereum. 🏛️ It’s a crypto-native alternative to traditional banking, offering a globally accessible savings product known as the “Internet Bond,” which is dollar-denominated. 💰
With another massive token unlock looming on the horizon and market sentiment teetering on the edge, traders are bracing themselves for potential market mayhem in the days to come. 🤞
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2025-04-03 16:05