ENA's network activity surged to multi-month highs following the $250M buyback plan announcement
, even as the price declined roughly
↘7.61%
over the past week.
Buyback plan supports protocol fundamentals
The protocol holds approximately $4.85B in total value locked (roughly 6.1x its market cap) while the $250M STAC buyback plan
aims to support the token through revenue allocation.
Network activity reaches multi-month highs
Daily active addresses climbed above 5,000 (the highest since November 2025) while 486 new holders joined over the past day, though selling pressure remained evident with 1.59x more sellers than buyers.
Investor behavior shows mixed signals
Blockchain data shows a net outflow of approximately $0.12M from exchanges over the past day, though holders are selling at a loss (SOPR at 0.74) following the 300M token exchange inflow over the past month.
Trading activity remains elevated
Trading volume rose roughly
↗4.60%
over the past 24 hours while network activity metrics remained elevated across the same period.