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5 clusters · 27 sources · 39 days · First seen · Last updated

Ethena Foundation ENA token restructuring

Overview

The Ethena Foundation has implemented structural changes to its tokenomics, including a “fee conversion” proposal and a fee-switch mechanism. Once the USDe supply reaches $7.5 billion, 95 percent of net revenue will be routed into ENA buybacks. To mitigate monthly sell pressure, the Foundation restructured the token release schedule by buying out early venture capital investors, consolidating their tokens into a single unlock event on October 5, 2026.

By late September 2026, the circulating supply of USDe exceeded $13 billion. Standard Chartered has issued a bullish outlook, with Global Head Geoff Kendrick projecting the ENA token could reach $2.00 by the end of 2028, driven by a projected USDe market capitalization of $40 billion. The bank notes that the buyback program should create upward pressure on the token price as USDe scales.

In early October 2026, Ethena saw significant market activity, including a record hourly spike of $17.7 million in realized profits. This surge coincided with increased “whale” activity, with transactions exceeding $100,000 rising steadily. USDe reserves earned $18.3 million over a 30-day period during this time. While Standard Chartered maintains a long-term bullish stance, technical analysts are monitoring a $0.196 support level to gauge whether buyers can defend against increased selling pressure.

Entities

ENA · Ethena · USDe · Ethena Foundation · Standard Chartered

Timeline

  1. [TECHNOLOGY] 8 sources
    NEAR Protocol eyes growth through AI and cross-chain infrastructure

    NEAR Protocol is leveraging cross-chain infrastructure and AI agent integration to drive growth, following a 140% price increase and record swap volumes in September.

  2. [BUSINESS] 8 sources
    Standard Chartered predicts ENA token could reach $2 by 2028

    Standard Chartered predicts the Ethena (ENA) token could reach $2.00 by 2028, driven by the projected growth of its USDe stablecoin to $40 billion and a massive token buyback program.

  3. [BUSINESS] 7 sources
    Ethena to accelerate ENA token unlock and end USDe incentives

    Ethena will accelerate a 1.41 billion ENA token unlock on October 5 and end all USDe growth incentives by the end of September as it expands into tokenized U.S. stock markets.

  4. [BUSINESS] 3 sources
    Ethena Foundation restructures ENA token unlocks via VC buyout

    The Ethena Foundation has bought out early VC investors and consolidated all remaining ENA token unlocks into a single date on October 2, 2026, to mitigate monthly sell pressure.

  5. [BUSINESS] 2 sources
    Ethena approves revenue-based ENA token buybacks

    Ethena's governance approved a proposal to use protocol revenues for ENA token buybacks, leading to a 15% price increase despite low recent protocol revenue.

Sources

ambcrypto.com · bitcoinethereumnews.com · block-builders.de · blogs.airdropalert.com · coindoo.com · coinpedia.org · crypto-insiders.nl · crypto-reporter.com · crypto.news · cryptobreaking.com · cryptonewsland.com · cryptonomist.ch · cryptopolitan.com · cryptoslate.com · cryptoticker.io · detlionblood32.wordpress.com · en.bitcoinsistemi.com · ethnews.com · koinbulteni.com · kriptohaber.com.tr · sondakika.com · spacemoney.com.br · theascent.com · tokenpost.com · tradingview.com · tronweekly.com · viagemegastronomia.com.br

This summary has been updated 3 times: see revision history