Ethena Labs Has Hit the Market. ENA Grew by 60%
Ethena Labs launched the ENA token, which rose by 60% at the moment and became a growth leader in the crypto market. Despite the controversial history of the project, investors and prominent industry figures support the new player of the crypto arena.
Ethena Labs announced the launch of the ENA token along with the expansion of its USDe stablecoin, which immediately caught the attention of the industry. The CEO of the BitMEX exchange, Arthur Hayes, supported the project.
Congrats @ethena_labs on a successful TGE. If this is what $ENA is worth what the market is puking, imagine how high it will go once we resume up only!$ENA = $10
— Arthur Hayes (@CryptoHayes) April 2, 2024
It’s just math yo … pic.twitter.com/rKGW7ofHzi
Ethena Labs launched ENA to become a more accessible and decentralized project. Previously, the company distributed 5% of the total offering to USDe and sUSDe holders. ENA gives holders voting rights in deciding the future of the protocol.
In February, the company was involved in a scandal when it turned out that the big companies that invested millions in the project actually had nothing to do with it. On the other hand, the community criticized the ENA development approach. The coin and protocol have critical bugs that caused people to fear a possible repeat of Terra's situation.
1/3 I’m calling out @CryptoHayes and @cobie who are invested in Ethena and have large followers to push Ethena to respond before TGE.
— TardFiWhale.eth (@TardFiWhale) March 25, 2024
Ethena is critically flawed and WILL fail. There are solutions to fix it. I simply ask for a public commitment to a bounty that will be donated https://t.co/dboF6bFd2m
Yet, despite their fears, the coin entered the market with a total market capitalization of $1.2 billion. ENA has skyrocketed 60% in the last 24 hours, becoming the growth leader among all cryptocurrencies. Ethena (ENA) is currently priced at $0.8732 and its market value has already reached $1.26 billion.
Ethena also recently held an airdrop. According to Arkham Intelligence, the largest holder received a sum of nearly $2 million in ENA tokens.
According to Dune Analytics, there are currently 22,200 people claiming ENA tokens. The total number of ENA claimed is almost 240 million, which is 32% of the total $750 million ENA for airdrop.
