FxWirePro- Token Unlock this week (Ethena)

Today, December 18, 2024, a total of 12,860,000 ENA tokens from Ethena will be unlocked. This means about 0.44% of the tokens that are currently available in the market will be released. This unlocking is part of a planned schedule to manage how many tokens are available and to improve liquidity.

Here are the key details:

• Unlock Amount: 12,860,000 ENA
   
• Percentage of Circulating Supply: 0.44%
   
• Current Price: Around $1.16
   
• Market Cap: Approximately $3.39 billion
   
• Circulating Supply: About 2.93 billion ENA

This event comes after another similar unlock on November 13, 2024, when a similar number of tokens were released. Unlocking tokens can change how the market behaves, possibly affecting the price and trading volume of ENA in the next few days as investors change their positions in response to the increased supply.

The unlocked tokens will be allocated as follows:

Ecosystem development:  12.86 million tokens (0.44%)

ENAUSD major resistance and support

Major resistance-  $1.50

Major support - $1