ENA is the top-100's sharpest bounce this week — and its next big supply event lands in ~10 days.
Oct 21 wraps had ENA up ~14.5% in 24 hours to $0.224. My klines: $0.1744 → $0.226 in seven days, higher lows near $0.185, $0.195, $0.20. Now $0.2076 (+4.8%/24h, ~$54M spot volume).
Unlock math: ~275M ENA (~1.8% of supply, ~$57M) unlocks in early November — roughly one full day of spot trading. Trackers split on Nov 1 vs Nov 3–10, so early November it is.
The tension: the unlock lands while the buyback is still off — USDe supply sits near $4.7B, well short of the $7.5B threshold switching ENA buybacks on.
The staircase holds while $0.1975 holds — a 4h close under it breaks the structure; a close over $0.226 makes the unlock noise.
Honest line: unlocks are supply, not demand — tokens meeting thin bids sends $0.20 back for a retest.
Which arrives first — USDe crossing $7.5B to switch buybacks on, or the unlock hitting the tape? $ENA NFA. DYOR.
$ENA $USDe #DeFi #Ethena #TokenUnlock #CryptoNews
Oct 21 wraps had ENA up ~14.5% in 24 hours to $0.224. My klines: $0.1744 → $0.226 in seven days, higher lows near $0.185, $0.195, $0.20. Now $0.2076 (+4.8%/24h, ~$54M spot volume).
Unlock math: ~275M ENA (~1.8% of supply, ~$57M) unlocks in early November — roughly one full day of spot trading. Trackers split on Nov 1 vs Nov 3–10, so early November it is.
The tension: the unlock lands while the buyback is still off — USDe supply sits near $4.7B, well short of the $7.5B threshold switching ENA buybacks on.
The staircase holds while $0.1975 holds — a 4h close under it breaks the structure; a close over $0.226 makes the unlock noise.
Honest line: unlocks are supply, not demand — tokens meeting thin bids sends $0.20 back for a retest.
Which arrives first — USDe crossing $7.5B to switch buybacks on, or the unlock hitting the tape? $ENA NFA. DYOR.
$ENA $USDe #DeFi #Ethena #TokenUnlock #CryptoNews