ENA Token Surges 3.45% as $260M Buyback and Whale Accumulation Drive Market Optimism

Ethena (ENAUSDT) has experienced a 3.45% price increase over the past 24 hours, currently trading at 0.6293 USDT on Binance. This upward movement is primarily attributed to Ethena’s announcement of a $260 million buyback program aimed at supporting liquidity, as well as heightened accumulation by large holders ("whales") who have acquired over 1 billion ENA tokens recently. Additional bullish sentiment has been driven by the protocol’s fundamental growth, including the expansion of its USDe stablecoin supply to over $9.3 billion, making it the third-largest stablecoin, and recent integrations with partners such as Transak and Coinbase International. The 24-hour trading volume remains strong, with ENA/USDT on Binance accounting for a significant share, and the market capitalization stands at approximately $4.22 billion with a circulating supply of about 6.62 billion tokens. Overall, increased whale activity, positive ecosystem developments, and robust trading volumes have contributed to the recent price appreciation and market optimism.