Ethena (ENA) price increased by 9.1% to about $0.39, continuing a weekly gain of 16.1%. However, on-chain data reveals the rally is weakly supported, with 82.1% of transfer volume flagged as wash trading and tokens flowing into exchanges, signaling potential sell pressure. Whale wallets are moving tokens to exchange hot wallets, indicating distribution rather than accumulation. Investors should watch for a reversal in exchange flows and a decrease in wash trading to confirm a stronger uptrend.
Ethena, the protocol behind the synthetic dollar USDe, is expanding its reserve backing to include equities and commodities while shutting down its HyENA deployer that managed 18 perpetual futures markets on Hyperliquid's HIP-3 framework. This closur...
The Ethena Foundation has bought out early investors who sold their ENA tokens, except one wallet that chose to hold. They have proposed a fee switch to fund ENA buybacks, which will be voted on by tokenholders by September 2. The buyback mechanism d...
Bitcoin options with a notional value of about $6.4 billion are set to expire on August 28, 2026. This large expiry could influence market positioning and volatility, though the actual impact on Bitcoin's price depends on factors like strike distribu...
Ethena proposes allocating 95% of net revenue from its branded businesses to buy back ENA tokens once the USDe stablecoin supply reaches $7.5 billion. The Ethena Foundation has also bought locked ENA tokens from seed investors and plans to accelerate...
Ethena Foundation has implemented four key changes to ENA's tokenomics, including buying out locked tokens from early seed investors who sold within nine months to reduce future sell pressure. A new Master Framework Agreement transfers intellectual p...
