$ENA $260M Buyback Plan: Buyback starts on July 21, recovering about 8% of the circulating token supply, providing upward momentum for ENA.

USDe Expansion Accelerates: The supply of its stablecoin USDe increased by approximately 75% this month, reaching around $9.3–9.5B, rising to become the third largest stablecoin globally, only behind USDT and USDC.

Large Unlock Coming Soon: Approximately $101M–$107M of ENA is expected to be unlocked in early August (accounting for about 2.8% of the circulating supply), while around 250 million ENA flowed into exchanges over the past two weeks, potentially bringing selling pressure in the short term.