On April 2, the largest beneficiary of the Ethena Labs airdrop got over $2 million worth of Ethena (ENA) tokens out of $450 million.
Wallet 0xb56 received 3.3 million Ethena tokens valued at $1.96 million, according to an April 2 X post by Arkham Intelligence that analyzed on-chain data.
The April 2 airdrop by Ethena Labs distributed ENA tokens valued at $450 million to eligible wallets.
As of 7:17 am UTC on April 2, the complete airdrop allocation had been distributed, as stated in an X post by Ethena Labs.
“The full 5% of $ENA has already been distributed to the claim smart contracts. The core contributors will be working around the clock to support with any questions on the claimable $ENA.”
Some of the largest centralized cryptocurrency exchanges, including Binance, Bybit, KuCoin, HTX, MEXC, and BitMart, listed the Ethena token for trading at 8 am UTC following the launch of the airdrop claim page.
The price of an Ethena token decreased by more than 15% in the twenty-four hours preceding 11:30 am UTC, arriving at $0.5824. CoinMarketCap data indicates that ENA is the 110th largest cryptocurrency, boasting a market capitalization of $836 million.
On February 19, Ethena Labs introduced the USDe synthetic dollar to the public mainnet. On March 8, it granted investors access to cryptocurrency’s highest-earning decentralized application (DApp) by presenting an annual percentage yield (APY) of 67%.
According to the homepage of Ethena Labs, USDe is presently providing a 35.4% yield to more than 123,000 consumers, accompanied by a total value locked (TVL) of $1.6 billion.
According to data from DefiLlama, the market capitalization of USDe increased by 1.9% one week ago and 135% one month ago, reaching $1.58 billion.
A week ago, the Ethena token became available for mining on the Binance launch pool.
The March 29 exploitation of a counterfeit replica ENA token for BNB worth $290,000 sparked widespread concern. PeckShield, an on-chain security firm, erroneously identified the counterfeit token as the authentic ENA coin. Unpatentable was the genuine Ethena token.
