$260 Million in Cash Will Be Used to Buy ENA on the Open Market by Ethena Foundation's Subsidiary
Written by: Alex Liu, Foresight News
On the evening of July 21, Ethena's native token ENA was briefly boosted by 20% to 0.59 USDT, reaching a six-month high, triggered by the news that "the Treasury company plans to buy $260 million in ENA tokens", sparking market discussion. This article will provide a detailed explanation of the event and ENA's recent performance, analyze its potential impact on the Ethena project and the market, and assess the project's current status.
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and technical terminology]In summary, StablecoinX has completed financing and launched the ENA Treasury plan, bringing positive impacts to the Ethena project: in the short term, it has boosted token prices and provided value-added expectations for holders. In the long run, this marks Ethena's attempt to connect its digital dollar theme with traditional capital markets, opening up new financing and distribution channels. However, this move has not fundamentally changed Ethena's asset and revenue model, with its stablecoin operation still based on crypto-collateralized hedging logic.
Therefore, it is difficult to conclude whether the project's fundamentals have been "changed": the capital flow and listing support brought by StablecoinX are undoubtedly a major positive, but whether Ethena can continue to prove the robustness of its high-yield mechanism and cope with regulatory changes still requires time and further observation.
