Ethena (ENA) Price Surges 23% as Foundation Buys Out Early Investors and Removes Monthly VC Unlocks

Ethena's ENA token surged 23% in 24 hours, trading around $0.16–$0.17, and has doubled in price over the past week. The Ethena Foundation bought out locked tokens from early seed investors who sold ENA in the past nine months. The monthly VC unlock schedule has been removed to cut future selling pressure, and a governance vote is live.