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Ethena: $1 billion Unlock for ENA, price remains stable
By Daniele Corno
New Monstre unlock, with Ethena unlocking 40% of the circulating supply equal to 2 billion ENA, with a value close to $1 billion
ENA's mega Unlock has arrived
This morning at 8 a.m. Italian time, Ethena successfully carried out a Monstre unlock.
This is the largest single-day unlock in the past and future history of the ENA token, with 2.07 billion tokens issued on the market.
This is the latest major token release in a single day, bringing ENA‘s circulation to 35% of the total supply. Currently, around 5.3 billion ENA are available on the market, compared to a maximum supply of 15 billion.
From now on, therefore, the unlocks will be linear and contained, with monthly unlocks from now until March 2028 when the entire supply will be circulating on the market.
So currently ENA is taking a weight off its shoulders, with a future controlled emission and without huge unlocks.
News already discounted
We have now learned that large Unlock announcements often cause the opposite reaction to what many investors expect.
We are talking about public announcements that have been known for some time and that in fact allow market players to discount the price in advance.
Ena in fact reacts with a stalemate, with a stable price of $3.8 dollars, in a range between $0.33 and $0.47. Stable values following the first big collapse on February 3rd.
The release of these 2.07 billion ENA brought over $800 million to the market, with the market cap skyrocketing from $1.2 billion to over $2.05 billion, according to Coingecko data.
