Athena’s largest airdrop recipient will reach $2M
The largest recipient of the Athena Labs airdrop received nearly $2 million worth of Athena (ENA) tokens on April 2.
According to chain data analyzed by Arkham Intelligence in an April 2 X post, recipient wallet 0xb56 received 3.3 million Ethena tokens for $1.96 million.
Athena Labs airdrop went live on April 2nd and distributed $450 million worth of ENA tokens to eligible wallets.
The full airdrop allocation was distributed on April 2 at 7:17 am UTC, according to X posted by Athena Labs.
The full 5% of $ENA is distributed to smart contracts already requested. Core contributors work around the clock to provide support for questions on $ENA.
After the weather claim page went live, the Ethena token was listed for trading at 8:00 am UTC on some of the largest centralized crypto exchanges including Binance, Bybit, KuCoin, HTX, MEXC and BitMart.
The Ethena token is down more than 15% in the 24 hours until 11:30 am to change hands at $0.5824. According to CoinMarketCap data, ENA is currently the 110th largest cryptocurrency with a market capitalization of $836 million.
Related: Athena Labs Founder Explains USD Stability Amid High Yield Stress
Athena Labs launched the USDe synthetic dollar on its public network on February 19. It became the highest-grossing decentralized application (DApp) in crypto on March 8 when it offered investors a 67 percent annual yield (APY).
Etena USDA is currently serving 35.4% of production to more than 123,000 users and has a total value of $1.6 billion locked in (TVL), according to the Etena Labs homepage.
According to Dofilama data, the market value of the USD rose 1.9 percent last week and 135 percent last month to $1.58 billion.
The Ethena token was listed for farming on Binance's launch pool last week.
On March 29, a fake copycat ENA token was extorted for $290,000 in BNB. On-chain security firm PeckShield registered the real ENA coin. The actual Ethena token has not been subjected to any exploitation.
Related: How High Can Bitcoin Go? New BTC price forecast shows cycle high at $180k
