ENA Token Jumps 10% as Ethena Foundation Proposes Revenue-Based Buybacks

Key Facts

In a move reflecting the shift toward strengthening value-accrual mechanisms within decentralized finance, the Ethena Foundation has introduced a proposal to activate a fee switch and support the token's market dynamics. According to reports, the foundation proposed allocating 95% of net protocol revenue toward ENA token buybacks from both the market and early investors. The ENA token price responded with a 10% jump following the announcement, driven by expectations of reduced circulating supply.

This strategic shift aims to implement a mechanism that ensures protocol earnings directly benefit token holders, marking a significant evolution in the project's financial policy. Based on the available data, the activation of the fee switch serves as a catalyst for converting operational profits into direct buying pressure for the ENA token. These developments occur amidst growing market interest in sustainable revenue models within the cryptocurrency sector.

From a technical perspective, ENA exhibits strong upward momentum following the proposal, though specific closing price levels as of August 28, 2026, were unavailable in current market data. Traders should closely monitor the governance vote results as the primary catalyst for future price action. On the broader economic front, there are no upcoming global calendar events over the next seven days with a direct impact on digital assets, leaving protocol-specific fundamentals as the main price driver.