Assessing Ethena’s $ENA Potential to Reach $2 by April 2025

As of February 24, 2025, Ethena (ENA) is trading at approximately $0.4234, with a 24-hour trading volume of $161.29 million and a market capitalization of $603.49 million. The circulating supply stands at 1.425 billion ENA tokens, with a total supply of 15 billion ENA tokens. 

A significant event on the horizon is the scheduled unlocking of 2.06 billion ENA tokens on March 5, 2025, representing 13.75% of the total supply. This substantial increase in circulating tokens could exert downward pressure on the token’s price due to potential sell-offs by early investors or contributors. 

Price predictions for ENA vary among analysts. Some forecasts suggest that ENA could reach up to $1.25 by the end of 2025, while others are more conservative, projecting a price of $0.77 for the same period. Another analysis anticipates a potential increase to $1.31 in 2025, with a possible decline to $0.001919 if momentum is lost.

Given the current market conditions, upcoming token unlocks, and varying price forecasts, it appears unlikely that ENA will reach the $2 mark by April 2025. Investors should closely monitor market developments and exercise caution, considering both the potential for growth and the risks associated with significant token releases.