🚀🚀🚀In just 20 days, it surged nearly 3 times, what exactly happened with $ENA ?
Since July 16, the supply of Ethena's stablecoin USDe skyrocketed from 5.3 billion to 8.5 billion, an astonishing increase.
Today, ENA rose 8.6% in a single day, reaching a price of 0.66U, approaching a recent high.
In this short span of 20 days, ENA has almost tripled, and many people haven't even had a chance to react before being left behind.
Why has it surged so dramatically?
There are three core reasons:
High yields ignited FOMO sentiment
Ethena attracted a large number of DeFi whales with a 12% stable annual yield subsidy, accelerating USDe minting and causing “arbitrageurs” to flock online, igniting market FOMO sentiment.
Narrative upgrade: Buyback + Reserve mechanism
ENA has launched a reserve building and token buyback plan, interpreted by the market as a signal of the project team's long-term bullish outlook, forming a new logical support for the price increase.
Multi-protocol linkage + KOL hype
Mainstream protocols like Aave and Pendle joined the USDe ecosystem, expanding the use cases for funds, while influencers concentrated on promoting it, further amplifying the impact.
Additionally, there are signs that major funds may have positioned themselves in advance, subsequently pushing up prices through market control, guiding retail investors to chase higher prices.
Operational advice: Spot players can build positions in batches, while contract players should focus on buying the dips.
