🚀 $ENA is moving again — up around 10% today.
But the interesting part isn’t just the pump.
Ethena is taking steps to remove one of ENA’s biggest problems: investor unlocks and the selling pressure they can create.
The Foundation has repurchased locked ENA from certain seed investors and accelerated the remaining investor unlocks. It’s also proposing a revenue-funded ENA buyback tied to the growth of USDe.
That changes the story from constant unlock pressure to potentially more structural demand for $ENA .
Price is around $0.16, with $0.20 now looking like the next major psychological target. If momentum continues, $0.257 becomes the bigger level to watch.
Still, RSI is already around 71, so I wouldn’t chase a green candle blindly.
A pullback that holds support could offer a much cleaner entry.
$ENA is definitely back on my watchlist. 👀
But the interesting part isn’t just the pump.
Ethena is taking steps to remove one of ENA’s biggest problems: investor unlocks and the selling pressure they can create.
The Foundation has repurchased locked ENA from certain seed investors and accelerated the remaining investor unlocks. It’s also proposing a revenue-funded ENA buyback tied to the growth of USDe.
That changes the story from constant unlock pressure to potentially more structural demand for $ENA .
Price is around $0.16, with $0.20 now looking like the next major psychological target. If momentum continues, $0.257 becomes the bigger level to watch.
Still, RSI is already around 71, so I wouldn’t chase a green candle blindly.
A pullback that holds support could offer a much cleaner entry.
$ENA is definitely back on my watchlist. 👀