ENA Skyrockets 23% in 24 Hours: Inside Ethena's Massive Tokenomics Overhaul
Ethena (ENA) stole the crypto spotlight today, registering a massive 23%+ single-day surge to trade between $0.15 and $0.17. This explosive price action caps off a spectacular 100% rally over the past 30 days. While minor profit-taking caused a slight pullback from its local high of $0.18, the broader market sentiment surrounding the asset has turned overwhelmingly bullish due to a radical transformation of its economic model.
The primary catalyst for this massive rally is Ethena's aggressive decision to permanently eliminate the historical selling pressure that has long plagued the token. The foundation successfully executed a buyout of all locked tokens held by early investors and venture capitalists (VCs) who had been consistently offloading supply. Furthermore, the regular monthly VC token unlocks have been completely halted and consolidated into a single, final unlock event scheduled for October 5, 2026.
Beyond supply constraints, powerful structural upgrades are driving investor demand:
The Revenue-Backed Buyback: A highly anticipated governance proposal has opened for voting, aiming to trigger a "fee switch." Once activated, it will direct 95% of the protocol's net revenue to buy back and burn ENA tokens from the open market, transitioning it into a revenue-generating asset.
Expanding Yield Horizons: Ethena has officially integrated traditional equity markets into its USDe backing mechanics, diversifying its yield generation strategy beyond native crypto markets to offset the closure of its HyENA platform.
Surging Liquidity: Trading volume exploded to between $1.22 billion and $2.4 billion in the last 24 hours, confirming heavy institutional and retail participation.
Technically, the bulls are heavily defending the $0.147 – $0.150 support zone. As long as ENA holds above this floor, market analysts expect a minor consolidation before a definitive retest of the $0.180 resistance, which could pave a clean path toward the $0.200 psychological milestone.$ENA
