Ethena unlocks 8 Million tokens, price unaffected

Ethena simply unlocked nearly 8 million tokens, but surprisingly, the unlocking event had little impact on the price.

February 12, Ethena (Ethn)) unblocked 7.93 million tokens, representing 0.25% of its total diet, with 65.66% of the remaining blocked offer. Surprisingly, the unlocking event did not have a downward pressure on the token because it always exchanged at the same level before unlocking. However, Ethena Price is still negotiating in the lowering territory, down 10% in the last 24 hours, according to Co Ringecko.

Ethena’s progressive unlocking strategy aligns with the objective of the project to maintain the stability of the token, an objective reinforced by the previous restructuring by the project of its tokenomic. In June 2024, Ethena presented A significant overhaul of his Tokenomics, which included a locking of 50% for all beneficiaries of air tickets.

This decision aimed to reduce in the short term speculative trading And the promotion of long -term outfit triggered backlash of certain users who estimated that this favored the team and the first investors. This decision also expressed its concerns concerning the role of the token in governance and alignment of interests between the team, the first investors and the wider community.

Despite the initial negative reaction, the Tokenomics of Ethena seems to work for the objective of the project: stabilizing the price by discouraging the immediate sale and guaranteeing more sustainable growth.