ENA (Ethena) fell 1.33% in the last 24 hours.

Gate News Bot news, on July 2, according to CoinMarketCap, as of the time of writing, ENA (Ethena) is currently reported at 0.26 USD, down 1.33% in the last 24 hours, reaching a high of 0.29 USD and a low of 0.25 USD, with a trading volume of 101 million USD in the last 24 hours. The current market capitalization is approximately 1.572 billion USD, a decrease of 21.2647 million USD compared to yesterday.

Ethena is a project focused on digital dollar solutions, serving the internet economy. The project has launched two token products: USDe and sUSDe. According to official data, the 30-day average annualized yield of sUSDe is 19%. Ethena currently supports 24 chains and offers features such as a transparency dashboard, ecosystem, and network.

Important news about ENA recently:

1️⃣ Token unlocks draw market attention This week, ENA will welcome a token unlock, with the unlock amount accounting for more than 1% of the circulating supply. This may put short-term pressure on the ENA price, and investors need to closely monitor the market reaction after the unlock. Token unlocks typically increase market supply, which may trigger a certain level of selling pressure.

2️⃣ USDe Redemption Plan Officially Launched Ethena Labs has announced the redemption plan details for USDe token holders. Holders can submit redemption requests by filling out an electronic exchange form, which requires providing personal information, proof of holding, and more. This initiative aims to provide an exit channel for USDe holders and may impact the market's confidence in the Ethena project.

3️⃣ Reached an agreement with German regulators Ethena Labs has reached an agreement with the Federal Financial Supervisory Authority of Germany (BaFin) to initiate a 42-day redemption process for USDe stablecoin holders. This marks the official end of the four-month regulatory dispute between the two parties, and Ethena GmbH will officially liquidate in Germany, the EU, and the European Economic Area. This move indicates Ethena's formal exit from the EU market, which may impact its global business layout.

From a technical perspective, the ENA price has shown a falling trend in the past 24 hours, possibly related to the upcoming token unlock and redemption plans. Investors should closely monitor the price trends and volume changes in the coming days to assess the market's reaction to these events.

This message does not constitute investment advice; investors should be aware of market volatility risks.