Ethena Unlocks 7.93 Million Tokens with Minimal Price Impact
Ethena, a cryptocurrency token, has recently unlocked 7.93 million tokens, equivalent to 0.25% of its total supply. Despite this significant event, the price of Ethena remained relatively stable, with only a 10% decline over the last 24 hours.
Unlock Event and Tokenomics Strategy
The unlock event was part of Ethenaβs gradual unlocking strategy, designed to maintain stability for the token. This approach aligns with the projectβs aim of reducing short-term speculative trading and promoting long-term holding. In June 2024, Ethena introduced a significant overhaul to its tokenomics, including a 50% lock-up for all airdrop recipients.
This decision was met with mixed reactions from the community, with some users expressing concerns about the tokenβs role in governance and the alignment of interests between the team, early investors, and the broader community. However, Ethenaβs tokenomics seems to be working toward the projectβs objective: stabilizing the price by discouraging immediate selling and ensuring more sustainable growth.
Key Takeaways
- Ethena unlocked 7.93 million tokens, accounting for 0.25% of its total supply.
- The unlock event had minimal impact on the price, with a 10% decline over the last 24 hours.
- Ethenaβs gradual unlocking strategy aims to maintain stability for the token.
- The projectβs tokenomics overhaul includes a 50% lock-up for all airdrop recipients.
βBy discouraging short-term speculative trading and promoting long-term holding, Ethenaβs tokenomics strategy aims to stabilize the price and ensure more sustainable growth.β
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