FxWirePro- Token unlock tomorrow (ETHENA)

• Unlock date: January 22
• Number of tokens unlocked: 12.86 million ENA
• Current circulating supply: 3.03 billion ENA

Ethena (ENA) is to unstake on January 22, 2025, 12.86 million ENA coins. These constitute only 0.42 percent of the nearly 3.03 billion that it has in reserve and available for circulation. It unlocks the $11 million unlocked in value-it has to support any current projects the token is sustaining, and would let the holding token participate within the governance sphere. This could impact market dynamics by affecting liquidity and price stability as investors respond to the new increased supply of tokens. Overall, this is a step that is aimed at promoting growth in the Ethena ecosystem, which is a synthetic currency protocol on Ethereum.

Token Distribution-

Ecosystem development- 12.86 million ENA (0.42% Cir Supply)

ETHENAUSD

Major resistance- $1.30

Major Support- $0.70