CRAZY, right? 🚨😮

$ENA down 92% from ATH of $1.52.

Trading at $0.11 today.

And whales just accumulated $110M in open interest in 24 hours. 🐋

Here's what smart money sees that retail doesn't. 🧠

USDe stablecoin supply grew to $7.5 BILLION.

Lifetime protocol fees surpassed $480 million.

Fee switch activation coming — transforming $ENA from governance token into yield-generating asset. 💎

That single catalyst changes everything.

Revenue sharing = sustainable demand floor.

83 million ENA bought back by treasury in July 2025 already. 🔥

+17.3% this week while BTC gained just 5%.

Volume up 60% with no specific news catalyst.

That's organic accumulation. Not hype. 👀

-92% from ATH with $7.5B in stablecoin product running daily.

The product works.

The market just hasn't repriced it yet. ⚡

Analysts targeting $1.50 by end of 2026.

From $0.11 that's 13x. 📈

$ENA #Ethena #StrongBuy 🚀