Ethena unlock: $50M in ENA sent to exchanges
- —About $50M in ENA moved to exchanges after the token unlock
- —Senders include addresses tied to YZi Labs, D1 Ventures and Tron VC
- —Transfers occurred over the week following the unlock
- —ENA dropped 5% in 24 hours to $0.1991, 86% below its $1.52 peak
Why it matters: Unlocked tokens flowing to exchanges raise the risk of sell pressure on ENA's price.
Source: Bitcoin Sistemi