On April 2, the largest recipient of the Ethena Labs airdrop received nearly $2 million worth of Ethena (ENA) tokens.
The recipient, identified by wallet address 0xb56, acquired 3.3 million Ethena tokens valued at $1.96 million, as per on-chain data analyzed by Arkham Intelligence in a post on April 2.
The Ethena Labs airdrop went live 2 hours ago, with $450M of ENA to distribute.
The largest $ENA recipient so far has been 0xb56, who received 3.30M ENA worth $1.96M.
Track ENA on Arkham:https://t.co/coFsTcBUCa https://t.co/RSZwXLhCB6 pic.twitter.com/l6c7bqKghG
— Arkham (@ArkhamIntel) April 2, 2024
The Ethena Labs airdrop, which commenced on April 2, distributed $450 million worth of ENA tokens among eligible wallets.
By 7:17 am UTC on April 2, the entire airdrop allocation had been distributed, according to an announcement 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
— Ethena Labs (@ethena_labs) April 2, 2024
After the launch of the airdrop claim page, the Ethena token was listed for trading at 8:00 am UTC on major centralized exchanges such as Binance, Bybit, KuCoin, HTX, MEXC, and BitMart.
In the 24 hours leading up to 11:30 am, the Ethena token experienced a decline of over 15%, trading at $0.5824. Currently, ENA ranks as the 110th-largest cryptocurrency with a market capitalization of $836 million, according to CoinMarketCap.
Ethena Labs introduced its USDe synthetic dollar on the public mainnet on Feb. 19, and it quickly became the highest-earning decentralized application (DApp) in crypto on March 8, offering investors an annual percentage yield (APY) of 67%.
Presently, Ethena’s USDe offers a 35.4% yield to over 123,000 users, with a total value locked (TVL) of $1.6 billion, as stated on Ethena Labs’ homepage.
The market capitalization of USDe witnessed a 1.9% increase in the past week and a remarkable 135% surge in the past month, reaching $1.58 billion, according to DeFiLlama data.
Last week, the Ethena token was listed for farming on the Binance launch pool.
There was a notable incident of concern when a fake copycat ENA token was exploited for $290,000 worth of BNB on March 29. However, the real Ethena token remained unaffected by the exploit, clarified by on-chain security firm PeckShield.
