Ethena Unlocks 8 Million Tokens, Price Remains Unchanged

Ethena’s recent token unlock of 7.93 million tokens, which represents just 0.25% of its total supply, took place on February 12, but surprisingly, it did not lead to any significant downward price movement. The unlocked tokens amounted to a small portion of the total supply, with 65.66% still locked. Despite the release, the price of Ethena remained stable and continued to trade at the same level as before the unlock. However, the token is still in bearish territory, with a 10% decline over the past 24 hours.

Ethena’s gradual unlock strategy is part of a broader plan to maintain price stability, a goal that was reinforced when the project restructured its tokenomics in June 2024. The restructure included a 50% lock-up for all airdrop recipients, aiming to prevent short-term speculation and encourage long-term holding. Although this decision initially faced backlash from some users who felt it favored the team and early investors, it appears to be helping stabilize the price by limiting immediate selling pressure.

The unlock event, while not causing significant market movements, signals that Ethena is taking a long-term approach to its tokenomics. This could contribute to more sustainable growth in the future as the project works toward balancing the interests of the team, early investors, and the broader community.