Bitcoin
Bitcoin (BTC)
$84,598.00 5.46001
Bitcoin price
Ethereum
Ethereum (ETH)
$1,935.19 4.80696
Ethereum price
BNB
BNB (BNB)
$588.29 2.11625
BNB price
Solana
Solana (SOL)
$134.17 10.65181
Solana price
XRP
XRP (XRP)
$2.35 5.27047
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000127 6.51186
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 8.3149
Pepe price
Bonk
Bonk (BONK)
$0.0000109 6.31746
Bonk price
dogwifhat
dogwifhat (WIF)
$0.509077 10.62215
dogwifhat price
Popcat
Popcat (POPCAT)
$0.202196 18.22403
Popcat price
Bitcoin
Bitcoin (BTC)
$84,598.00 5.46001
Bitcoin price
Ethereum
Ethereum (ETH)
$1,935.19 4.80696
Ethereum price
BNB
BNB (BNB)
$588.29 2.11625
BNB price
Solana
Solana (SOL)
$134.17 10.65181
Solana price
XRP
XRP (XRP)
$2.35 5.27047
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000127 6.51186
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 8.3149
Pepe price
Bonk
Bonk (BONK)
$0.0000109 6.31746
Bonk price
dogwifhat
dogwifhat (WIF)
$0.509077 10.62215
dogwifhat price
Popcat
Popcat (POPCAT)
$0.202196 18.22403
Popcat price
Bitcoin
Bitcoin (BTC)
$84,598.00 5.46001
Bitcoin price
Ethereum
Ethereum (ETH)
$1,935.19 4.80696
Ethereum price
BNB
BNB (BNB)
$588.29 2.11625
BNB price
Solana
Solana (SOL)
$134.17 10.65181
Solana price
XRP
XRP (XRP)
$2.35 5.27047
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000127 6.51186
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 8.3149
Pepe price
Bonk
Bonk (BONK)
$0.0000109 6.31746
Bonk price
dogwifhat
dogwifhat (WIF)
$0.509077 10.62215
dogwifhat price
Popcat
Popcat (POPCAT)
$0.202196 18.22403
Popcat price
Bitcoin
Bitcoin (BTC)
$84,598.00 5.46001
Bitcoin price
Ethereum
Ethereum (ETH)
$1,935.19 4.80696
Ethereum price
BNB
BNB (BNB)
$588.29 2.11625
BNB price
Solana
Solana (SOL)
$134.17 10.65181
Solana price
XRP
XRP (XRP)
$2.35 5.27047
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000127 6.51186
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 8.3149
Pepe price
Bonk
Bonk (BONK)
$0.0000109 6.31746
Bonk price
dogwifhat
dogwifhat (WIF)
$0.509077 10.62215
dogwifhat price
Popcat
Popcat (POPCAT)
$0.202196 18.22403
Popcat price

Ethena unlocks 8 Million tokens, price unaffected

Dorian Batycka
Edited by
News
Ethena unlocks 8 Million tokens, price unaffected

Ethena just unlocked nearly 8 million tokens, but surprisingly, the unlock event had little impact on the price.

On Feb. 12, Ethena (ETH) unlocked 7.93 million tokens, accounting for 0.25% of its total supply, with 65.66% of the supply still remaining locked. Surprisingly, the unlock event did not exert downward pressure on the token as it was still trading at the same level before the unlock. However, Ethena price is still trading in the bearish territory, down by 10% over the last 24 hours, according to CoinGecko.

Ethena’s gradual unlocking strategy aligns with the project’s aim of maintaining stability for the token, a goal reinforced by the project’s earlier restructuring of its tokenomics. In June 2024, Ethena introduced a significant overhaul to its tokenomics, which included a 50% lock-up for all airdrop recipients.

This decision, aimed at reducing short-term speculative trading and promoting long-term holding, sparked backlash from some users who felt it favored the team and early investors. The move also raised concerns about the token’s role in governance and the alignment of interests between the team, early investors, and the broader community.

Despite the initial negative reaction, Ethena’s tokenomics seems to be working toward the project’s  objective: stabilizing the price by discouraging immediate selling and ensuring more sustainable growth.