$ENA is close to the monthly unlock, which will be on 2nd and 5th day of each month. The amount unlocked will be around 1.79% max supply and is worth around $24.5M at current price.
Although the ecosystem is profitable, Ethena foundation currently has no plan to buy back and refuse to turn on the fee switch so the community and investors can profit from it. This has led to a slow bleed, and perhaps what they intended to do to f*ck investors and hold all the profit for themselves.
Personally, I may come back and invest in the ecosystem after most of the tokens are unlocked (near April 2028) OR there is concrete news about fee switch turning on. For now, investing in this is a sure loss and the sell pressure will keep piling up each month. Price will keep falling until big players are done with accumulation. Fyi, their average accumlation price is < $0.05 so they are still in profit at this price.
NFA
Although the ecosystem is profitable, Ethena foundation currently has no plan to buy back and refuse to turn on the fee switch so the community and investors can profit from it. This has led to a slow bleed, and perhaps what they intended to do to f*ck investors and hold all the profit for themselves.
Personally, I may come back and invest in the ecosystem after most of the tokens are unlocked (near April 2028) OR there is concrete news about fee switch turning on. For now, investing in this is a sure loss and the sell pressure will keep piling up each month. Price will keep falling until big players are done with accumulation. Fyi, their average accumlation price is < $0.05 so they are still in profit at this price.
NFA
