The price of Ethena rose today, despite the $101.87 million in ENA token unlocks this week. Therefore, investors should prepare for future volatility. According to data from CryptoRank, Ethena has recorded the largest token unlocks this week, which could create some selling pressure.
On the other hand, cryptocurrency analyst Ali Martinez reported that "250 million Ethena ENA have been sent to exchanges in the last two weeks!" This shows that investors expect to take profits after a 140% surge in the price of Ethena in July. Last week, veteran investor Arthur Hayes sold 7.76 million ENA coins, worth $4.62 million.