#ENA

📊 Current Market Data

Price: $0.2720 USD

24h Change: +2.96%

Market Cap: Approximately $1.58 billion USD

24h Trading Volume: Around $96.9 million USD

Circulating Supply: 5.82 billion ENA tokens

All-Time High: $1.52 USD (April 2024)

🔓 Token Unlock & Market Impact

Ethena is set to unlock 171.88 million ENA tokens, representing about 3.10% of its circulating supply. Such large unlocks can increase liquidity, potentially leading to heightened volatility and price fluctuations.

In anticipation of this unlock, ENA's price has been under pressure, declining for three consecutive days and reaching its lowest point since April 2022. The token has fallen by almost 80% from its peak in November last year.

🔧 Ecosystem Developments

Ethena has partnered with the TON Foundation to integrate its synthetic dollar, USDe, into the Telegram ecosystem. This collaboration aims to allow users to send, save, and pay with USDe directly within Telegram, potentially expanding Ethena's user base.

🔮 Outlook

While the upcoming token unlock poses short-term challenges, Ethena's strategic partnerships and ecosystem developments may offer long-term growth opportunities. Investors should monitor market reactions to the token unlock and assess Ethena's ongoing integrations for future prospects.