Ethena has recently risen back on the wind and momentum again: buyback votes plus VC unlocks bring major changes—tokens directly take off
Simply put, it’s using the protocol’s earnings to repurchase ENA, while also suppressing the selling pressure from institutional unlocks
One side is a bullish buy order, the other side is reduced sell pressure—both ends exerting force at the same time
This playbook looks familiar, doesn’t it? Now mainstream projects are all learning it
Buyback and deflation, reduce circulating supply via locking—the goal is one thing: tilt the token’s supply-demand balance toward the long side
ENA previously got hit pretty hard by unlock-related selling; this time, it seems they’re really going all in
Let’s go a step deeper: in the stablecoin arena, Ethena has always been a top-tier player
USDe is already at a sizable scale, and the protocol revenue is real—not just a bunch of empty promises
So where does the buyback money come from? From the protocol’s genuine cash earnings—that’s the real value
That said, don’t get carried away just because it’s pumping. There’s always a second layer of logic in the token market
Whether the vote can pass and whether the unlock reforms can be executed depends on implementation
Before the good news is delivered, price moves based on expectations; after it’s delivered, that’s when we see the real deal
For us, a fundamental-driven narrative like this is more reliable than purely chasing hype
With revenue, buybacks, and governance—if you’ve got all three, it’s worth taking a closer look
But position management is always lesson one: no single coin bet, even for “gods,” can withstand everything
Diversify a bit, stay steady in your mindset, and you’ll be able to hold on for the next big opportunity
Every day, I’ll bring you to track crypto hot topics—not just what happens in the news, but also help you understand the underlying logic and opportunities 👀🚀
Click the link below to follow me👇🏻加入小恐龙粉丝群
#Ethena #Stablecoin #DeFi
Simply put, it’s using the protocol’s earnings to repurchase ENA, while also suppressing the selling pressure from institutional unlocks
One side is a bullish buy order, the other side is reduced sell pressure—both ends exerting force at the same time
This playbook looks familiar, doesn’t it? Now mainstream projects are all learning it
Buyback and deflation, reduce circulating supply via locking—the goal is one thing: tilt the token’s supply-demand balance toward the long side
ENA previously got hit pretty hard by unlock-related selling; this time, it seems they’re really going all in
Let’s go a step deeper: in the stablecoin arena, Ethena has always been a top-tier player
USDe is already at a sizable scale, and the protocol revenue is real—not just a bunch of empty promises
So where does the buyback money come from? From the protocol’s genuine cash earnings—that’s the real value
That said, don’t get carried away just because it’s pumping. There’s always a second layer of logic in the token market
Whether the vote can pass and whether the unlock reforms can be executed depends on implementation
Before the good news is delivered, price moves based on expectations; after it’s delivered, that’s when we see the real deal
For us, a fundamental-driven narrative like this is more reliable than purely chasing hype
With revenue, buybacks, and governance—if you’ve got all three, it’s worth taking a closer look
But position management is always lesson one: no single coin bet, even for “gods,” can withstand everything
Diversify a bit, stay steady in your mindset, and you’ll be able to hold on for the next big opportunity
Every day, I’ll bring you to track crypto hot topics—not just what happens in the news, but also help you understand the underlying logic and opportunities 👀🚀
Click the link below to follow me👇🏻加入小恐龙粉丝群
#Ethena #Stablecoin #DeFi
