� Weekly Summary for $ENA
⬇️ The structure of the supply is now clearer
Over the past week, Ethena took three important steps that could directly affect the dynamics of the token supply:
🔹 The Foundation purchased locked tokens from a number of key investors in the Seed round, who had been selling portions of their holdings over the past nine months.
🔹 Pausing the investors’ monthly token unlock schedule.
Remaining tokens will be unlocked all at once on October 5, after which the repeated sell pressure resulting from monthly unlocks will disappear.
🔹 A governance proposal put to a vote that stipulates directing 95% of the protocol’s net revenue toward $ENA buybacks once the USDe supply reaches $7.5 billion.
📈 These changes reduce a continuing source of sell pressure in the market, while at the same time opening a clearer path toward increasing the value accumulated for the token.
Price reacted positively to this news, but the real test will come over the next few weeks:
Will the improved supply structure continue to support the market as the next investor token unlock on October 5 approaches?
👀 Key things to watch:
→ Developments regarding the buyback proposal
→ Growth of the USDe supply and its approach to the $7.5 billion level
→ How the market will absorb the token unlock on October 5
$ENA
⬇️ The structure of the supply is now clearer
Over the past week, Ethena took three important steps that could directly affect the dynamics of the token supply:
🔹 The Foundation purchased locked tokens from a number of key investors in the Seed round, who had been selling portions of their holdings over the past nine months.
🔹 Pausing the investors’ monthly token unlock schedule.
Remaining tokens will be unlocked all at once on October 5, after which the repeated sell pressure resulting from monthly unlocks will disappear.
🔹 A governance proposal put to a vote that stipulates directing 95% of the protocol’s net revenue toward $ENA buybacks once the USDe supply reaches $7.5 billion.
📈 These changes reduce a continuing source of sell pressure in the market, while at the same time opening a clearer path toward increasing the value accumulated for the token.
Price reacted positively to this news, but the real test will come over the next few weeks:
Will the improved supply structure continue to support the market as the next investor token unlock on October 5 approaches?
👀 Key things to watch:
→ Developments regarding the buyback proposal
→ Growth of the USDe supply and its approach to the $7.5 billion level
→ How the market will absorb the token unlock on October 5
$ENA
