On February 12, 2025, Ethena (ENA), a decentralized stablecoin protocol, unlocked approximately 7.93 million ENA tokens, accounting for 0.25% of its total supply. Despite concerns that such token unlocks might lead to increased selling pressure and subsequent price declines, ENA’s market price remained stable following the event.
Ethena’s Tokenomics and Unlock Strategy
Ethena has a total supply of 15 billion ENA tokens, distributed as follows:
- Core Contributors: 30%
- Investors: 25%
- Ethena Foundation: 15%
- Ecosystem Development: 30%
The recent token unlock is part of Ethena’s planned schedule to support ecosystem development. The absence of adverse price movements indicates a well-managed release strategy and a resilient market demand for ENA tokens.
Market Performance and Future Outlook
As of February 12, 2025, ENA is trading at approximately $0.4156, with an intraday high of $0.4585 and a low of $0.4041. The token has experienced a slight decline of about 9.35% in the past 24 hours. Despite this, the stability observed during the recent token unlock suggests that the market had anticipated the event, and the impact was already priced in.
Looking ahead, Ethena has scheduled a significant token unlock on April 2, 2025, where approximately 2.06 billion ENA tokens (13.8% of the total supply) will be released. This event is expected to have a more substantial impact on the market, and stakeholders will be closely monitoring the token’s performance during this period.
Conclusion
Ethena’s recent token unlock demonstrates the project’s commitment to a transparent and strategic token release schedule. The market’s stable response indicates confidence in Ethena’s approach to managing its tokenomics. As the project continues to develop its platform and expand its offerings, the market will closely monitor how future token unlocks are managed and their impact on ENA’s valuation.
