Ethena unlocked just about 8 million tokens, but surprisingly, the unlock event had little impact on the value.
On 12 February, Ethena (Eth) Unlocked 7.93 million tokens, accounting for 0.25% of its total supply, still remained closed with 65.66% supply. Surprisingly, the unlock event did not put pressure down on the token as it was still trading at the same level before the unlock. However, the price of Athena is still trading in the field of recession, it is 10% less in the last 24 hours, according to it. Coingko,
The gradual unlocking strategy of the athana aligns with the purpose of the project to maintain stability for tokens, a goal that reinforced by restructuring its tokens of the project. In June 2024, Athena Pur: An important overhaul for its tokenomics, which included 50% lock-up for all aircraft recipients.
This decision promotes backlash from some users, with the aim of reducing short -term speculative trading and promoting long -term holdings, who realized that it is in favor of team and early investors. The move also expressed concern about the role of tokens in governance and the alignment of interests between the team, early investors and the broad community.
Despite the initial negative feedback, the tokenomics projects of Ethana are working towards the purpose of the project: stabilizing the price by discouraging immediate sales and ensuring more sustainable growth.
