#ethena : Market Confidence Soars

Ethena has launched an ambitious $260 million buyback program of its token $ENA , using its new treasury branch, StablecoinX. This maneuver is part of a $360 million capitalization strategy, aiming to consolidate ENA as a key long-term asset.

$260 million will be allocated to daily ENA purchases in the open market over six weeks, representing 8% of the circulating supply. An additional $60 million in ENA locked will go to StablecoinX, which will operate exclusively as a reserve with no intentions of sale. This announcement has already boosted the price of ENA, a sign of market confidence in Ethena's vision.