๐ข Ethena Foundation $310M Buyback Program Announced!
๐ฅ ENA +12.62% (24h)
๐๏ธ Date: Sept 6, 2025
Key Highlights:
๐ข Ethena Foundation launched a $310M open market buyback program
๐ต Backed by an additional $530M โStablecoinXโ PIPE transaction
๐ $260M net proceeds will be used to repurchase locked ENA tokens from Ethena Foundationโs subsidiary
๐ On July 21: StablecoinX raised $360M & announced Nasdaq Global Market listing under ticker USDE
๐ฆ Ethena Foundation also contributing $60M worth of ENA tokens
๐ Impact on ENA:
๐ Strong bullish catalyst โ Institutional confidence grows
๐ Buyback reduces supply pressure โ Supports price stability
๐ ENA already up +12.62% in 24h on this news
โก What Traders Should Watch:
๐ Volume spikes confirming reaction
๐ Resistance near 0.6970 (24h high)
๐ฏ Medium-term upside targets if bullish momentum continues
๐ก Takeaway:
Massive buyback = ๐ฅ Strong confidence in ENAโs long-term value with Nasdaq ambitions via StablecoinX.