- StablecoinX raised $530 million, boosting total commitments to $890 million, securing over 3 billion ENA tokens stacked into its treasury reserves.
- A $310 million buyback program launching within 6–8 weeks aims to stabilize trading zones and strengthen ENA’s consistent market demand structure.
- Ethena trades at $0.7323 with $607,564,345 volume, supported by bullish chart breakout, surging institutional traction, and powering dual stablecoins.
Ethena (ENA) is surging past $0.73 after StablecoinX secured substantial commitments and announced a major buyback, driving strong market momentum.
Treasury Commitments Boost ENA’s Outlook
Altcoinpedia reported that StablecoinX raised $530 million, bringing total commitments to $890 million. The funds will be used to stack over 3 billion ENA tokens into its treasury, creating substantial long-term backing.
The move strengthens confidence across the market as treasury-based accumulation signals deeper institutional interest. Such a reserve structure provides strong support for ENA’s market positioning in volatile trading environments.
Market participants consider this level of capitalization firepower as a strong driver for momentum. With ENA also powering the dual stablecoins USDe and USDtb, treasury and institutional circles continue showing rising engagement.
Buyback Plan Strengthens Demand Structure
StablecoinX confirmed a $310 million buyback program scheduled to roll out within the next 6–8 weeks. The plan is designed to operate across both upside and downside trigger zones, ensuring steady absorption of supply.
This approach introduces a consistent demand mechanism, reinforcing the upward potential already forming on the charts. The buyback also acts as a stabilizer, giving traders and institutions a defined confidence layer.
Market sentiment has shifted notably, with increasing traction from institutional players supporting broader adoption. The added utility of ENA in powering stablecoins continues to expand its functional base.
Technical Setup Signals Momentum Shift
On the 4-hour ENA/USDT chart, the price has just moved above a long term descending trendline. This could be a breakout indicating lessening bearish pressure after several months of consolidation.
The volume has increased quite dramatically during the move, signifying more buyers in the market. The MACD line is slightly bullish, with the blue line breaking above the signal line, which suggests improving momentum.
The RSI is currently at 57 with quite a bit of room to the upside before hitting overbought conditions. If momentum can hold, ENA could have targets of $0.78–$0.80 with extended targets possibly of $0.85–$0.90.
Ethena was at $0.7323 as of this writing, reflecting a 9.96% weekly gain, despite recording a 2.49% intraday decline, with $607,564,345 in daily volume.
