📢 Massive Buyback by Ethena – $260M #ENA Repurchase Program Announced

✍️ Ethena Foundation has announced a major token buyback of $260 million worth of $ENA, to be executed through its newly established treasury entity, StablecoinX. The buyback will take place over the next 6 weeks, with a planned $5 million worth of daily purchases. This move represents approximately 8% of the current circulating supply.

✍️ This strategic action is part of the $360M PIPE financing round, $100M of which has already been deployed directly as token liquidity into the system.

📈 Following the announcement, $ENA saw a sharp price increase, ranking among the top-performing tokens of the past week.

🔍 Key Highlights:

$5M daily buyback may significantly reduce market liquidity.

This reduction in supply could place upward pressure on price in the mid-term.

All repurchases will be conducted transparently via StablecoinX.

⚠️ This is not investment advice. The content is for informational purposes only. Crypto assets are highly volatile always do your own research.

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