Multi-signature wallet 0x54b of the Ethena Labs transferred 94.16M ENA to 33 addresses in the past 15 hours, likely part of this week's 2.07B ENA unlock ($779M, or 39.17% of circulating supply):

• address: 0x54b8c65f0635fd91c8729dd3269c630d9aed54e5

Notably:

• So far, 59.3M ENA ($21.08M) has been sold on DEXs or sent to exchanges including Binance, Kraken, and Bybit at an average price of $0.355.
• Notable recipients include OKX Ventures (17.87M ENA) and Curve’s founder, Michael Egorov (2.8M ENA). Both have deposited all their ENA to Binance.

Currently, the multi-sig still holds 1.224B ENA ($433M) and may continue distributing soon.

The ENA price dropped 3.44% in the past hour.

Fig 1. Ethena Labs is expected to unlock 2.07B ENA ($779M, or 39.17% of the circulating supply) this week, according to Tokenomist.

Fig 2. Recipients of the ongoing ENA token unlock have offloaded 59.3M ENA ($21.08M) in the past 15 hours.