The native cryptocurrency of the Ethereum-based artificial greenback protocol Ethena, ENA, has skilled a big surge, climbing by 53% inside simply two hours following its profitable airdrop. As of now, the Ethena (ENA) price stands at $0.8846, with its market capitalization exceeding $1.26 billion upon its debut
Ethena (ENA) Airdrop Becomes Big Success
The much-anticipated Ethena Labs airdrop kicked off on April 2, dispersing $450 million price of ENA tokens to eligible wallets. Ethena Labs introduced that the whole airdrop allocation was efficiently distributed by 7:17 am UTC on the identical day.
According to on-chain information analyzed by Arkham Intelligence, the most important recipient of the Ethena Labs airdrop obtained a exceptional sum of practically $2 million in ENA tokens. Wallet 0xb56 emerged because the recipient of three.3 million ENA tokens, equal to $1.96 million.
The Ethena Labs airdrop went stay 2 hours in the past, with $450M of ENA to distribute.
The largest $ENA recipient thus far has been 0xb56, who obtained 3.30M ENA price $1.96M.
Track ENA on Arkham:https://t.co/coFsTcBUCa https://t.co/RSZwXLhCB6 pic.twitter.com/l6c7bqKghG
— Arkham (@ArkhamIntel) April 2, 2024
As per data from Dune Analytics, presently, there are 22,200 claimers of the airdropped ENA tokens. The complete claimed ENA as of press time is 236,886,283 which is 32% of the whole $750 million ENA secured for airdrop.
Ethena operates as an artificial greenback protocol on the Ethereum blockchain, offering a cryptocurrency-based substitute for typical banking providers. Within its ecosystem, it options the USDe artificial greenback and the ‘Internet Bond’ financial savings instrument. USDe stands out for its stability, resistance to censorship, and backing by Ethereum collateral.
With a staggering yield of 35.4%, Ethena’s USDe has attracted greater than 123,000 people to lock in a complete worth of $1.6 billion, in line with Ethena Labs’ homepage. Over the final month, the market capitalization of USDe has elevated by 135% to succeed in $1.58 billion, positioning it because the fifth-largest stablecoin.
ENA 10x Price Rally Possible
After the airdrop declare web page went stay, the Ethena token grew to become promptly tradable on main centralized cryptocurrency exchanges comparable to Binance, Bybit, KuCoin, HTX, MEXC, and BitMart.
Last week on March 29, the Binance Launchpool introduced the launch of Ethena Labs’s ENA token because the fiftieth challenge on the platform. Since then, Ethena has gained consideration of a few of the high trade gamers. Earlier as we speak, BitMEX CEO Arthur Hayes mentioned that Etherena worth has an amazing potential to rally all the way in which to $10.
Arthur Hayes famous that ENA has begun rallying even with out participation from Korean merchants. Based on this commentary, he forecasted a big surge within the Ethena worth upon the entry of Korean buyers into the buying and selling enviornment
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