Ethena Labs Buys 25M ENA Amid Whale Accumulation, Potentially Boosting Price Momentum

Ethena Labs recently purchased 25 million ENA tokens worth $7.05 million from Bybit, boosting its holdings to 779.89 million ENA valued at $207.7 million. This buyback strategy supports price stability amid ongoing whale accumulation, signaling strong team confidence in the token's future. Ethena Labs' latest acquisition reduces circulating supply and reinforces market support for ENA. [...]