🚀 Ethena Explodes 50% as StablecoinX Drops $260M Buyback Bomb
Stablecoin giants just lit a rocket under Ethena—and the market's scrambling to keep up.
The play: StablecoinX's jaw-dropping $260 million buyback program sent Ethena's price into orbit this morning. Trading volumes doubled in 90 minutes as algos front-ran the liquidity wave.
Why it matters: This isn't just another token pump. That buyback could soak up 5% of Ethena's circulating supply—a move so aggressive it makes corporate stock repurchases look like pocket change.
Between the lines: Some whales apparently got the memo early. On-chain data shows three massive Ethena accumulations in the 48 hours pre-announcement. But hey—insider trading is so 2024, right?
The real winner here? StablecoinX's marketing team. Nothing says 'trust our peg' like burning a quarter-billion dollars to prop up your ecosystem partner. Genius—or desperate? You decide.
A new Ethena treasury firm named StablecoinX aims to be listed on the Nasdaq to capitalize on the growing digital dollar trend, with plans to buy back ENA shares as the ENA price rises 8%. The news comes as Wall Street's crypto treasury fever grows stronger, expandi... Read More
