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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 Ethena’s gradual unlocking strategy, designed to maintain stability for the token. This approach aligns with the project’s 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 token’s role in governance and the alignment of interests between the team, early investors, and the broader community. However, Ethena’s tokenomics seems to be working toward the project’s 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.
- Ethena’s gradual unlocking strategy aims to maintain stability for the token.
- The project’s tokenomics overhaul includes a 50% lock-up for all airdrop recipients.
“By discouraging short-term speculative trading and promoting long-term holding, Ethena’s tokenomics strategy aims to stabilize the price and ensure more sustainable growth.”
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