Largest ENA airdrop recipient missed out on over $1 million profit
The most important recipient of the Ethena Labs airdrop aimed for quick revenue and missed out on $1 million in additional {dollars}.
Ethena Labs launched the ENA token with a $450 million airdrop on April 2, per a crypto.information report.
In line with information offered by Arkham Intelligence, the most important ENA recipient obtained 3.30 million tokens, value roughly $1.96 million on the time of the airdrop. Precisely quarter-hour later, the tackle transferred the tokens to the Bybit crypto alternate for quick profit-taking.
Nevertheless, round 11 hours later, ENA reached an all-time excessive (ATH) of $0.8987 with a complete market cap of $1.27 billion.
The three.30 million ENA cash would have been value $2.96 million when the asset reached its ATH — exhibiting an additional $1 million revenue for the most important airdrop recipient.
ENA is up by 40% prior to now 24 hours and is buying and selling at $0.84 on the time of writing — down by 5% from its ATH. The asset’s market cap is at the moment standing at $1.18 billion, making it the 84th-largest cryptocurrency.
It’s essential to notice that Ethena Labs, identified for its artificial USD token USDe, gained public help from the previous BitMEX CEO Arthur Hayes, amongst different well-liked figures within the business.
On Feb. 15, Binance Labs formally introduced its funding in Ethena Labs and two different initiatives as a part of its incubator program.
