Ethena proposes 95% revenue allocation to ENA buybacks
Ethena (ENA)
Editor:
Eugene Serbin
cryptocurrency.com.tr reports that Ethena has proposed directing 95% of net revenue from its branded businesses toward ENA buybacks once USDe supply reaches $7.5 billion. The protocol also moves to end monthly investor unlocks and separate ecosystem economics from Ethena Labs equity.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 27 August 2026. Not the outlet's figures.
ENA is trading at $0.1475 with a 1-hour buy ratio of 59.2%, which is higher than the 4-hour ratio of 50.8% and the 24-hour ratio of 48.9%. This indicates that buying pressure is building in the short term relative to the daily average. The 1-hour volume delta is positive at +$979,768, while the 24-hour delta is negative at -$668,659. A positive volume delta means buyers are executing more trades than sellers, while the buy ratio shows the percentage of trades driven by buyers. The 24-hour cumulative volume delta closed at +$6,723,513, with net buying occurring in 17 of the last 24 hours.
The latest daily buy ratio of 48.8% sits at the 47th percentile of the last 281 days, against a median of 49.0% - ordinary for this coin.
Twenty-four hours later
What ENA did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for ENA, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.3%, making today's 24-hour ratio of 48.9% slightly lower by 1.4 points. Spot volume today is 0.42x the weekly average, indicating a quieter trading day than usual. The coin has seen a price change of +58.1% over the last 8 days, with a total volume delta of +$4,217,608. Net buying occurred on 4 of the last 7 days. Compared to the weekly average volume, today's activity is significantly lower, marking an ordinary day in terms of volume but unusual in its sustained price increase.