ENA Token Faces 5.67% Drop Amid $55M Unlock, $10B TVL Milestone, and Major Partnerships

Ethena (ENAUSDT) experienced a 5.67% price decline over the past 24 hours, with the current price at $0.7965 on Binance, opening at $0.8444. The recent price movement follows significant developments including the removal of the 'Seed' tag on Binance, Ethena's USDe stablecoin TVL surpassing $10 billion, and a new partnership with Anchorage Digital supported by BlackRock's BUIDL fund. On-chain data shows continued accumulation by large holders and notable token movements, while anticipation of a $55 million ENA token unlock event has increased circulating supply and may have contributed to short-term selling pressure. Despite recent volatility, Ethena maintains strong trading activity with 24-hour volumes exceeding $1 billion and a market capitalization above $5 billion, reflecting ongoing investor interest and active participation in the market.