Ethena slips 6% amid early October supply unlock schedule
CIE News ·
Ethena slid 6% to $0.258 as traders hedged against a 40.63 million token cliff unlock on October 2, ahead of an expected 1.41 billion distribution scheduled for October 5.
Ethena (ENA) dropped 6% to $0.258 following a 40.63 million token unlock on October 2, 2026, valued around $11 million, according to CoinMarketCap. The drop reflected market participants hedging and marking down prices to front-run the sudden expansion in circulating supply. Cryptoticker.io reported that a larger release of 1.41 billion ENA is scheduled for October 5, 2026, aimed at investors and contributors, representing roughly 14% of the token supply. CoinMarketCap noted the recent price weakness was driven by market positioning around supply overhang rather than shifting protocol fundamentals.