ENA Plunges 3.3% as Profit Taking and Supply Pressures Bite

Ethena (ENA) saw a 3.3% decline in value over the past 24-33 hours, primarily due to profit taking after a significant news-driven rally and modest supply-side pressures.

The token's recent surge of about 75.43% over the last 30 days was driven by positive structural and product catalysts, including the launch of Ethena Pay, a consumer 'internet money neobank' app offering up to 6% rewards and 4-5% card cashback.

A token unlock schedule report for early September notes that on September 2, 2026, about 40.63 million ENA were scheduled to be unlocked to the Ethena Foundation, equal to about 0.46% of circulating supply.

Additionally, a project-linked wallet deposited 14 million ENA to Bybit, which likely stirred concerns about insider or legacy holder selling.