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Ethena Foundation Cuts Monthly Unlock Overhang With Early Investor Buyouts

Guavy AI Editorial Team
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ENA
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The Ethena Foundation made significant moves to address concerns about early investor monthly unlock overhang by buying out certain major seed investors who sold ENA tokens within the last nine months.

In an effort to reduce the monthly supply overhang, the Foundation acquired all of the locked tokens in OTC transactions from these investors who received more than 0.25% of the total token supply.

This development has led to a rally in ENA, with the token trading at around $0.16, up over 14% today according to TradingView data.

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