🚀 "ENA Drops to ~$0.67 After Major Unlocks and Whales Take Profit"
🔹 Quick Stats (Mid-2025)
Price: ~$0.67 (↓ ~6% in 24h)
Market Cap: ~$4.46B (Circulating ~6.62B of 15B max)
Volume (24h): ~$590M
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🔧 What Is ENA?
ENA is the governance token for Ethena, a synthetic stablecoin protocol offering USDe—a crypto-native dollar alternative backed by ETH and perpetual futures. It empowers users to vote on risk parameters and onboarding of collateral like SOL, and enables restaking via sENA to secure cross-chain functionality.
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📈 Highlights
Unlock-Driven Sell-off: A massive $833M token unlock caused ~17% price drop as long-term holders cashed in.
Whale Activity & Volatility: Whale moves, including an $8.8M transfer to exchanges, heightened short-term selling pressure.
Tokenomics Revisions: Governance updated allocations to enforce 50% token lockups post-airdrop to foster long-term alignment—though it sparked community debate.
Utility Expansion: sENA holders earn rewards (e.g., 15% of future supply) and benefit from staking infrastructure integrated with cross-chain tools like LayerZero.
> Disclaimer: For educational use only—not financial advice.
