CDS Crypto News Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars
Crypto NewsAirdrop & Listing

Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars

Ethena Labs distributed a total of $450 million worth of tokens to participants through an airdrop.

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Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars

Crypto News– On April 2nd, the largest beneficiary of the Ethena Labs airdrop received nearly $2 million worth of Ethena (ENA) tokens.

Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars

According to analysis conducted by Arkham Intelligence on April 2nd, wallet 0xb56 received 3.3 million Ethena tokens, equivalent to $1.96 million. The Ethena Labs airdrop commenced on April 2nd, distributing $450 million worth of ENA tokens among eligible wallets.

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 announced via a post that the entire airdrop allocation had been distributed by 7:17 am UTC on April 2nd.

Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars
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In the 24 hours leading up to 11:30 am, the Ethena token experienced a decline of over 15%, trading at $0.5824. As per CoinMarketCap data, ENA currently ranks as the 110th-largest cryptocurrency, boasting a market capitalization of $836 million.

Ethena Labs made waves on Feb. 19 with the launch of its USDe synthetic dollar on the public mainnet. By March 8, it had become the highest-earning decentralized application (DApp) in the crypto space, offering investors an annual percentage yield (APY) of 67%.

Presently, Ethena’s USDe stands out with a 35.4% yield, attracting over 123,000 users and boasting a total value locked (TVL) of $1.6 billion, according to data from Ethena Labs’ homepage.

Over the past week, the market capitalization of USDe witnessed a 1.9% increase, and in the past month, it surged by 135% to reach $1.58 billion, as per DefiLlama data.

Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars
Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars 2

Last week, the Ethena token was listed for farming on the Binance launch pool.

Concerns arose when a counterfeit ENA token was exploited for $290,000 worth of BNB on March 29. On-chain security firm PeckShield initially mistook the fake token for the authentic ENA coin. However, the genuine Ethena token remained unaffected by the exploit.

Top Receiver of Ethena Airdrop Grabs Almost 2M Dollars

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