ENA Price Under Pressure Ahead of $12M Token Unlock

Ethena’s native token, ENA, is experiencing price pressure ahead of a scheduled token unlock that could result in short-term market volatility. According to data from Tokenomist, approximately $12.73 million worth of Ethena (ENA) tokens will be unlocked on June 2nd. This unlock accounts for only about 0.7% of circulating supply but has already affected market sentiment as investors anticipate potential selling pressure from newly issued tokens.