Ethena 40.63MM Token Unlock

This token unlock, part of Ethena’s vesting schedule (CryptoRank.io), releases 40.63 million ENA tokens, representing a portion of its circulating supply. The purpose is to distribute tokens to early investors, team members, and ecosystem contributors as outlined in the project’s tokenomics. With ENA’s current market cap at $1.53 billion (CoinMarketCap, June 2025), this influx could impact price stability, especially given the token’s recent 0.75% daily gain. The significance lies in its potential to fuel ecosystem growth or, if mismanaged, trigger sell pressure—making it a focal point for traders and holders alike.Recent NewsEthena has been making waves. In May 2025, its staked USDe (sUSDe) Principal Tokens hit $1 billion in collateralized supply on Aave, a milestone celebrated by Messari.io, driven by attractive 15-25% yields. Founded by Guy Young, a Cerberus Capital alum, and advised by Arthur Hayes of BitMEX fame, Ethena’s credibility has grown, positioning it as a crypto-native “Internet Bond” alternative to traditional finance.Future PlansEthena’s roadmap, detailed on mirror.xyz, targets Q1 2025 for a major push into a dollar savings product, leveraging the futures basis market. Plans also include expanding collateral options via Solana integration and enhancing “shards” (redeemable points) to boost user engagement. This unlock aligns with their goal to scale financial products for institutional and retail users alike.Onchain DataAs of June 28, 2025, specific onchain data for this unlock (e.g., wallet activity or transaction volume) isn’t fully public. However, ENA’s 24-hour trading volume stands at $92.98 million (CoinMarketCap), suggesting robust market interest. Post-unlock metrics will be key—check Etherscan for real-time updates.Community SentimentX sentiment is cautiously optimistic. While no direct posts tie to this unlock yet, Ethena’s recent Aave success has sparked positive buzz, with users praising its yield potential. Some influencers hint at volatility risks, urging caution, reflecting a community balancing excitement with pragmatism.Additional InsightsEthena competes with stablecoin giants like USDT and USDC, but its decentralized edge stands out. The unlock could benefit long-term holders if reinvested into the ecosystem, though price dips are possible. A risk disclaimer: token unlocks can lead to short-term volatility—always do your research before trading!

The unlock of 171.88 million ENA tokens, valued at approximately $43.7 million based on recent prices, represents 2.95% of Ethena’s circulating supply of 5.82 billion tokens. These tokens, part of Ethena’s vesting schedule, are allocated to the Ethena Foundation to support protocol development and ecosystem stability. ENA, the governance token for Ethena Labs, empowers holders to vote on protocol upgrades, with USDe maintaining a $5.9 billion market cap as a top-5 stablecoin. Token unlocks often increase circulating supply, potentially causing short-term price volatility as markets absorb the new tokens. Ethena’s previous unlocks, like the 40.63 million ENA release on July 2, 2025, saw minor price dips but no sustained downturn, suggesting resilience.Recent NewsEthena has been making waves in DeFi. In June 2025, Coinbase added ENA to its listing roadmap, boosting its price by 8.6% and enhancing liquidity. The protocol’s USDe stablecoin, offering up to 37% APY, has driven explosive growth, briefly surpassing DAI’s market cap between December 2024 and March 2025. In Q1 2025, Ethena announced plans for iUSDe, a regulated savings product targeting traditional finance with ~20% APY, set to launch with major partners. These milestones highlight Ethena’s ambition to bridge DeFi and TradFi, though a 17% price decline over the past month reflects cautious market sentiment ahead of unlocks.Future PlansEthena’s roadmap is packed with innovation. The iUSDe product aims to attract institutional investors by offering high yields that increase as interest rates fall, positioning Ethena uniquely in DeFi. The protocol is also developing a neobank-like experience to enhance user accessibility. Long-term, Ethena plans to expand USDe’s integration across DeFi platforms and pursue partnerships to boost adoption. Analysts project ENA could reach $0.72–$1.52 by year-end, though bearish forecasts suggest a drop to $0.26 if market conditions weaken.Onchain DataEthena’s onchain activity remains robust. Its Total Value Locked (TVL) stands at $5.935 billion, ranking it among top DeFi protocols. ENA’s 24-hour trading volume recently hit $239.36 million, though it’s down 18.65% from prior levels, signaling cautious trading. With 39% of the 15 billion total ENA supply in circulation, the unlock will increase available tokens, potentially impacting liquidity. Specific wallet activity or staking metrics are unavailable, but whale accumulation and rising futures open interest suggest underlying demand.Community SentimentOn X, sentiment is mixed. Posts highlight the unlock’s potential for volatility, with some traders bracing for sell-side pressure. Others are bullish, citing Ethena’s strong fundamentals and iUSDe’s TradFi appeal. Influencers like @Kingpincrypto12 have criticized ENA’s tokenomics, pointing to the large 30% allocation to contributors as a price drag. Despite this, optimism persists around Ethena’s DeFi leadership and stablecoin growth.Market Insights & RisksToken unlocks often spark short-term volatility, especially in a market with $484 million in unlocks this week across projects like SUI and ZETA. ENA’s price, currently at $0.2546, is near key support at $0.22; a break below could test $0.245, while a rebound above $0.32 may signal recovery. Investors should monitor broader market trends, as falling U.S. inflation could boost risk-on sentiment. Risk Disclaimer: Token unlocks can lead to price swings or sell-offs. Always conduct your own research and consider market conditions before trading.

The AMA, starting at 2:00 PM UTC (10:00 PM CEST), features Ethena’s founder, MEXC’s spot operations director, and TON representatives. They’ll discuss $USDe’s unique delta-hedging mechanism, which uses futures contracts and liquid stables like USDC to maintain its peg, offering a fresh alternative to traditional stablecoins. The session aims to clarify $USDe’s roadmap, address community questions, and explore its possible move to TON, known for its Telegram-driven user base. Attendees can join via MEXC’s X Space link, with rewards tied to participation—details will drop during the event.Recent NewsEthena Labs has been on a roll. In May 2025, they secured $45 million in a Series B funding round led by Dragonfly Capital, boosting $USDe’s liquidity and adoption across DeFi platforms. By June, $USDe hit a $2 billion market cap, per CoinGecko, reflecting strong investor trust. Meanwhile, TON Blockchain’s user base grew 15% in Q2 2025, driven by Telegram mini-apps, setting the stage for this partnership. MEXC, a top exchange, recently expanded its stablecoin offerings, making this AMA a timely spotlight.Future PlansEthena plans to enhance $USDe’s scalability with cross-chain support, targeting TON and Solana by Q4 2025, according to their official blog. TON aims to onboard 100 million users by year-end, leveraging Telegram’s reach. MEXC intends to roll out more AMAs and trading competitions, fostering community engagement. This event could hint at new $USDe trading pairs or staking options, though specifics await confirmation.Onchain DataExact $USDe transaction volumes for July 2025 aren’t yet public, but Visa Onchain Analytics reported stablecoin weekend volumes averaging $2 billion daily in 2024, a trend $USDe likely follows given its DeFi traction. Ethena’s dashboard shows over 500,000 unique wallets holding $USDe as of mid-2025, signaling robust adoption. More data may emerge during the AMA.Community SentimentX buzz around this AMA is positive, with users like Mazimonie and 0x5c8a hyping the guest lineup and $USDe rewards. Some, like Crypto free signal, are curious about TON integration, while others see it as a bullish signal for stablecoin innovation. Influencers like Brain Carlson tie it to broader Shiba meme coin trends, though focus remains on $USDe’s fundamentals.Additional Insights$USDe’s delta-hedging approach, backed by a 2023 Journal of Financial Economics study, offers stability during market dips, outpacing rivals like USDT in volatility tests. With stablecoin demand rising—up 20% year-over-year per DefiLlama—this event could attract new users. Competitors like Circle (USDC) may feel pressure, but $USDe’s synthetic edge stands out. A quick note: as with any crypto event, price swings or technical risks are possible—do your own research.

Ethena, a synthetic dollar protocol on Ethereum, will unlock 40.63 million ENA tokens, valued at roughly $24.6 million at current prices of $0.6055. This represents 0.64% of the circulating supply (6.35 billion ENA) and is part of a vesting schedule extending to 2028, with 42.36% of the total 15 billion ENA supply currently unlocked. The tokens, allocated to the Ethena Foundation, follow a cliff vesting mechanism, meaning they’re released all at once after a set period, potentially increasing sell-side pressure. Historically, Ethena’s unlocks have been absorbed without significant price drops, but low trading volume or weak demand could test support levels around $0.50. Investors should monitor market conditions, as unlocks can boost liquidity but may spark short-term volatility. Disclaimer: Token unlocks can lead to price fluctuations; always research and assess your risk tolerance before trading.Recent NewsEthena’s been making waves in DeFi. In July 2025, its USDe stablecoin hit a $7 billion supply, cementing its place as the fourth-largest stablecoin. A partnership with Anchorage Digital launched USDtb, a U.S.-compliant stablecoin, driving a 5% ENA price rally. Additionally, a $260 million ENA buyback program (8% of supply) signaled strong confidence in the protocol’s growth. However, a massive 2.07 billion ENA unlock in March 2025 (66.19% of supply) triggered an 18% price drop, showing the market’s sensitivity to supply shocks. Despite this, ENA rebounded 17% post-unlock, hinting at resilience.Future PlansEthena’s roadmap is ambitious. Q1 2025 saw the launch of iUSDe, a staked USDe variant for institutional investors, and plans for a dedicated Ethena blockchain using ENA as the gas token are nearing completion. New DeFi apps like Ethereal DEX and Strata tranching aim to boost ENA’s utility, offering triple-stacked points for users. The protocol’s focus on regulatory compliance and liquidity expansion positions it to capture a slice of the $130 billion stablecoin market, competing with giants like Tether and USDC.Onchain DataOnchain metrics reflect Ethena’s growing adoption. USDe’s $7 billion supply underscores strong demand, with 268 million USDe redeemed on March 1, 2025, reducing supply by 4.7%. ENA’s 24-hour trading volume is $1.12 billion, with a market cap of $3.66 billion, ranking it #45 by popularity. The Average True Range (ATR) of 0.30 indicates rising volatility, while On-Balance Volume (OBV) shows fading flow, suggesting potential distribution. Data on active wallets is unavailable, but ENA’s integration with MetaMask and Coinbase supports seamless trading and staking.Community SentimentX posts reveal bullish vibes for ENA. Influencers like @QhaledS and @RyanWatkins_ highlight USDe’s $7 billion supply and the buyback program as growth drivers. @kirha_crypto notes low whale sell pressure and backing from heavyweights like Arthur Hayes, fueling optimism. However, some caution persists due to past unlock-related dips, with traders eyeing resistance at $0.60–$0.65. Overall, 47.2% of X posts express bullish sentiment, 52.8% are neutral, and only 5.09% are bearish, reflecting confidence in Ethena’s DeFi vision.Why It MattersThis unlock tests Ethena’s ability to balance supply growth with demand. With USDe’s rise and new DeFi integrations, ENA’s utility is expanding, but price stability hinges on market absorption. For crypto enthusiasts, this is a chance to assess Ethena’s role in redefining stablecoins and DeFi yields. Stay sharp, track onchain trends, and keep an eye on exchanges like Binance and MEXC for price action.

The Ethena Korea event takes place on September 24, 2025, in Seoul, starting with a live AMA and Q&A session from 3:10 PM to 4:00 PM KST, hosted by web3 influencer Edward Park (@Edward__Park) alongside Ethena co-founder Guy Young (@gdog97_). The discussion will cover recent milestones like USDe's Binance listing and the impending fee switch, with community questions shaping the flow.Following the AMA, attendees join DeFi deep dives with Morpho Labs and Pendle Finance, exploring yield strategies and integrations. The event wraps with a DJ afterparty, blending education and networking for 100-plus participants. The purpose is to engage Korea's vibrant crypto scene, addressing local queries on adoption, staking, and ecosystem expansions. Significance highlights Ethena's push for inclusive growth, as Korea drives 20% of global stablecoin flows. For the project, it fosters partnerships; for the community, it demystifies high-yield tools amid regulatory progress. Expected impacts include boosted USDe usage in Asia, clearer paths to airdrops, and heightened ENA trading, potentially lifting sentiment in a competitive stablecoin market.Recent NewsEthena Labs has accelerated in the past three months, cementing USDe as DeFi's third-largest stablecoin. On September 9, 2025, Binance listed USDe for spot trading against USDC and USDT, enabling yield-bearing collateral on Binance Earn and unlocking broader liquidity. This followed a surge to $12 billion supply by late August, driven by leveraged yields on platforms like Pendle and Aave.In early September, Ethena withdrew its bid for Hyperliquid's USDH issuance after community feedback emphasized native focus, showcasing responsive governance. Strategic investments included a multi-million dollar stake in Based on September 8, integrating USDe and USDtb into Hyperliquid's debit cards for real-world spending. Buybacks intensified, with 7.3% of ENA supply acquired in six weeks, supported by $250 million cumulative revenue and a $41 million reserve. Arthur Hayes, a key backer, highlighted the fee switch's potential for $500 million in ENA repurchases. ENA traded around $0.80 with a $1.2 billion market cap, up 20% weekly on listing hype, amid a stablecoin sector adding $17 billion TVL.Future PlansEthena's 2025 roadmap targets $25 billion USDe supply, evolving into the Ethena Network for on-chain finance. Q4 focuses on the fee switch activation, allocating protocol revenue to perpetual ENA buybacks once milestones like full exchange integrations (OKX by late 2025) are met. iUSDe launches in February, a restricted sUSDe variant for TradFi, partnering with institutions for 20% APY savings products.Telegram integration rolls out via TON for sUSDe payments and Apple Pay, tapping 900 million users. Converge network testnet follows in weeks, with mainnet later in 2025 for tokenized RWAs and gigagas throughput. New apps like Ethereal (perp exchange) and Derive (lending) build on this, aiming to rival Tether through cross-chain expansions and undercollateralized loans. Long-term, Ethena eyes $20 billion TradFi inflows, blending DeFi yields with compliant assets for global scale.Onchain DataEthena's protocol shines with $3.5 billion TVL as of mid-September 2025, per DeFiLlama, spanning Ethereum and integrations like HyperEVM. USDe supply hit $12 billion, with sUSDe staking at 70% of that, yielding 15-20% APY from basis trades and staking returns. Daily transactions average 50,000, focused on mints, redemptions, and Pendle swaps, with $257 million 24-hour volume across 129 markets.Dune dashboards show 1 million active addresses monthly, up 30% QoQ, while Etherscan logs 10,000 daily transfers for the ENA contract. Fees total $2 million quarterly, funding reserves; Glassnode notes 15 billion total supply, 3.1 billion circulating, with 40% staked for governance. USDtb adds $500 million TVL, underscoring diversified growth in a $150 billion stablecoin space.Community SentimentX buzz around the Ethena Korea AMA builds strong excitement, with Korean users praising the event's accessibility and star power. Edward Park's post on his enthusiasm drew 100 likes, calling Ethena "impressive" for delivering on promises like $13 billion TVL and fee switch progress. Threads highlight the AMA's live stream and gifts, one noting "so many questions, time feels too short," gaining 50 engagements.Global voices tie it to Binance listing wins, with "fee switch unlocks $500M buybacks" echoing Hayes' optimism. Some discuss Hyperliquid withdrawal as "smart listening to community," fostering trust. Pre-event RSVPs spike, with 200-plus interactions on announcements framing it as "Ethena's Asia push." Sentiment leans bullish, blending hype for yields with collaborative vibes on expansions.AMAs like this may influence ENA volatility from shared updates, so monitor closely. DYOR.