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Today's announcement from @ethena_labs easily anchored the fair value of $ena above 0.7.
Cost-saving version: The cryptocurrency company will buy $10 million per day below 0.7 and $5 million per day above 0.7, for a total of $530 million, which means it's been buying continuously for the past 100 days.
With a current market capitalization of $5 billion, its strength is truly impressive. Compared to other buyback projects, Hyperliquid (15 billion) only buys $3 million per day, and Jupiter (1.5 billion) buys $0.25 million per day.

Ethena Labs
@ethena_labs
09-06
StablecoinX Inc. @stablecoin_x has announced an additional $530 million capital raise as part of its $ENA accumulation strategy.
To date, StablecoinX has raised a total of approximately $895M in PIPE financing, which is expected to result in a vehicle with over 3 billion ENA
Simple and crude, buy buy buy
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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