According to RootData, Web3 asset data platform, Ethena (ENA) is preparing for a significant token unlock event scheduled for 00:00 Beijing time on November 2, where approximately 110.95 million ENA tokens will be released into circulation — an amount currently valued at around $51.21 million.
This upcoming unlock represents one of the larger scheduled releases for Ethena this quarter, likely drawing attention from traders monitoring potential short-term price reactions. Token unlocks often lead to increased market volatility, as early investors, team members, or ecosystem participants gain liquidity for previously locked assets.
Ethena, which focuses on synthetic yield and stable asset infrastructure, has been expanding its integrations across multiple DeFi protocols since its mainnet launch earlier this year. While long-term fundamentals remain intact, analysts suggest that large unlock events like this may temporarily pressure prices if newly released tokens are sold or reallocated.
Market observers will be watching whether Ethena’s liquidity depth and trading volume can absorb this new supply without destabilizing price levels — particularly as broader sentiment in the crypto market remains cautious.
