ENA Eyes $0.30 Breakout on Binance Partnership and Buyback Proposal
- —ENA rallied 277% from its July 1 low of $0.071 to $0.269
- —ENA gained 31.6% over the past week, trading above its 7- and 30-day moving averages
- —About $90 million in ENA was newly staked, pushing total locked supply to $1.26 billion
- —A governance proposal could direct up to 95% of protocol revenue toward ENA buybacks
Why it matters: The Binance partnership expands USDe's collateral base into equities, while the buyback proposal could directly support ENA's price.
Source: Blockonomi