The price of ENA crypto has declined by over 20% in the past week, and an additional 1% overnight, as consistent token unlocks continue to hinder the Ethena project.
Earlier today (June 2), 0.7% of the ENA crypto supply was unlocked, amounting to 40 million tokens valued at $12.5 million at current prices.
Remember how VCs were all shilling $ENA to you at the top?$ENA is now one of the worst performing tokens against $BTC. Excellent product IMO but with these unlocks it'll take time to find a bottom. pic.twitter.com/5jFg0iCJqV
— Defi_Mochi (@defi_mochi) June 2, 2025
Continued Token Unlocks For ENA Crypto Causing Price Suppression
With today’s unlock, over $12m was added to the Ethena market cap, and over $52m is due to be added on June 5 when the next token unlock occurs. The next unlock will distribute 2.95% (171.88 million tokens) of the current market cap to core contributors and investors.
Following this June 5 unlock, ENA crypto investors will have a brief reprieve until the next round of unlocks begins on July 2 and 5. The same amounts will again be added to the circulating supply.
This heavy inflation for Ethena is causing the token price to stagnate, as the market cap continues to increase, and ENA tokens are consistently added to the supply.
In the past week alone, ENA crypto is down over 20%, while Bitcoin has created a new all-time high and remains steady above $103,000. At the same time, many altcoins have enjoyed sizeable rallies, taking advantage of BTC’s consolidation phase.
Their token unlocks will occur on the 2nd and 5th of every month until April 2028, which could mean that ENA crypto will experience this bull market and the subsequent bear market before its token distribution is in a healthy spot.
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Constant unlocks to investors and core contributors likely mean heavy sell pressure due to over $60m in ENA tokens being unlocked monthly (at current prices).
Ethena is seemingly in a lose-lose situation. Suppose the price of ENA crypto doesn’t rise. In that case, the market cap will continue to inflate with the new tokens constantly being unlocked, and if the cost of ENA does rise, the unlocks will be more lucrative each month. Sell-offs by the investors and core contributors could cause extreme price volatility.
ENA crypto is trading for $0.3, around 80% down from its all-time high of $1.52 from April 2024. Since rallying from $0.21 in September to 2024 to $1.25 by December of the same year, Ethena has been in a heavy downtrend ever since. The sizeable token unlocks over the next 3 years for ENA, which means it may take some time for the token to find a bottom and breakout of its bearish structure.
BONUS: Snorter (SNORT) Is Blending Memecoin Virality With Utility: Over $330k Raised Already In Presale
While only being live for a few days, Snorter (SNORT) has already secured six figures in presale funding as it steams ahead to $1 million.
SNORT is a new token powering the Snorter Telegram trading bot on Solana. Snorter is already positioning itself as a market leader with lightning-quick functionality and some of the cheapest fees on offer.
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While the SNORT token is built on Solana and the Snorter trading bot is for Solana-ecosystem projects, it is multichain-ready, meaning that users can likely trade across multiple blockchains from the Snorter bot in due course.
The Snorter Bot is entering the market with ultra-competitive fees to gain a userbase right out of the gate. By holding the SNORT token, traders reduce their execution fees from 1.5% to 0.85%, beating out current market leaders such as BONKbot, Maestro, and Trojan.
With BONKbot seeing its trading volume hit $250 million in March this year and its daily fee income surpassing $1.4 million, it is clear to see the type of lucrative market Snorter Bot is entering. The SNORT token could be one of the best buys in crypto for 2025 as traders rush to secure it for those sub-0.1 % trading fees and lightning-fast functionality.
How To Buy The SNORT Token At Presale Prices:
To get involved with SNORT at these early-bird prices, connect your crypto wallet on the Snorter presale website and buy with SOL, ETH, BNB, USDT, USDC, or a card.
Buying with Best Wallet is a recommended choice. Presale purchasers benefit from easy management of their tokens, and Best Wallet’s market-leading ‘Upcoming Tokens’ feature provides exclusive access to other hot coins before they list on exchanges.
And to stay up to date on all things Snorter Bot, join the SNORT community via its social channels Twitter and Instagram
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