Ethena revealed its buyback plan, #ENA rose 23%.
Ethena Foundation proposes to stop the monthly unlocking of VC tokens and to allocate up to 95% of the protocol’s net revenue to ENA buybacks. After the news, ENA rose by about 23% and doubled in a little over a week.
Trader impact: The fundamental news is positive, but chasing from the current price is risky. For a new entry, a pullback, liquidity sweep, and a structural confirmation should be awaited.
Today’s decision: Opening a large position before the 12:00 option settlement and the 18:00 Fed statement is completed is high-risk. The key decision zone for BTC is the $80,000–$82,000 range.
Ethena Foundation proposes to stop the monthly unlocking of VC tokens and to allocate up to 95% of the protocol’s net revenue to ENA buybacks. After the news, ENA rose by about 23% and doubled in a little over a week.
Trader impact: The fundamental news is positive, but chasing from the current price is risky. For a new entry, a pullback, liquidity sweep, and a structural confirmation should be awaited.
Today’s decision: Opening a large position before the 12:00 option settlement and the 18:00 Fed statement is completed is high-risk. The key decision zone for BTC is the $80,000–$82,000 range.