Ethena just dropped 4 major ecosystem updates and $ENA is pumping 10.7% in 24h:
• Proposed revenue-funded $ENA buyback program
• Completed buyout of locked tokens from early seed investors
This is classic supply-side pressure relief. Less overhang from early VCs + protocol buying back its own token = bullish structure.
If they're using protocol revenue for buybacks, that's real yield mechanics at work. Not just promises.
Watch how this plays out over the next few weeks. If buybacks are sustained, we could see a new floor form.
• Proposed revenue-funded $ENA buyback program
• Completed buyout of locked tokens from early seed investors
This is classic supply-side pressure relief. Less overhang from early VCs + protocol buying back its own token = bullish structure.
If they're using protocol revenue for buybacks, that's real yield mechanics at work. Not just promises.
Watch how this plays out over the next few weeks. If buybacks are sustained, we could see a new floor form.
