The biggest receiver of the Ethena Labs airdrop was focused on quick gains and overlooked a potential profit of over $1 million. Ethena Labs introduced the ENA token through a $450 million airdrop on April 2, as reported by crypto.news.

As per Arkham Intelligence's data, the primary ENA recipient obtained 3.30 million tokens valued around $1.96 million during the airdrop. Shortly after, within 15 minutes, the tokens were swiftly moved to the Bybit crypto exchange for immediate selling. However, approximately 11 hours later, ENA surged to its all-time high of $0.8987, boasting a market cap of $1.27 billion.

At the peak value, the 3.30 million ENA tokens would have been valued at $2.96 million, indicating a missed opportunity of over $1 million for the largest airdrop beneficiary. Currently, ENA has seen a 40% increase in the last 24 hours, trading at $0.84, a 5% decrease from its ATH, with a market cap of $1.18 billion, ranking it as the 84th largest cryptocurrency.

It's worth mentioning that Ethena Labs, recognized for its USDe synthetic USD token, received support from notable figures like former BitMEX CEO Arthur Hayes. Additionally, Binance Labs recently disclosed its investment in Ethena Labs and two other projects within its incubator program on February 15.