I’ve been watching $ENA lately, and the setup is getting pretty interesting. There’s been around $2B in trading volume, but the bigger story is what’s happening behind the scenes.
Ethena approved using 100% of net protocol revenue for ENA buybacks, while seed investor OTC buyouts are completed and monthly VC unlocks have been eliminated.
With the $1B FalconX credit facility and TVL around $4B, there’s still serious capital behind the protocol.
Even with $BTC taking most of the market attention, ENA is starting to stand out. ENA is also a Top 5 trading pair on Bitget, so I’m watching the derivative activity closely.
I’m not chasing the pump. I’m waiting for a clean setup.
Are you watching ENA too, or waiting for a better entry?
#BTC Price Analysis#
#Macro Insights#
Ethena approved using 100% of net protocol revenue for ENA buybacks, while seed investor OTC buyouts are completed and monthly VC unlocks have been eliminated.
With the $1B FalconX credit facility and TVL around $4B, there’s still serious capital behind the protocol.
Even with $BTC taking most of the market attention, ENA is starting to stand out. ENA is also a Top 5 trading pair on Bitget, so I’m watching the derivative activity closely.
I’m not chasing the pump. I’m waiting for a clean setup.
Are you watching ENA too, or waiting for a better entry?
#BTC Price Analysis#
#Macro Insights#
