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![_WhyWeb3 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::4707748693.png) ZoeyLoo [@_WhyWeb3](/creator/twitter/_WhyWeb3) on x 1776 followers
Created: 2025-07-26 05:51:42 UTC

X. 💠 Ethena’s MicroStrategy Model & Supply Reduction Plan

StablecoinX raised $360M to repurchase ENA tokens and trigger a flywheel: 
ENA price ↑ → NAV ↑ → cheaper future capital → more ENA buybacks. Korea becomes a key demand driver.




XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948984552732667905/c:line.svg)

**Related Topics**
[nav](/topic/nav)
[ena](/topic/ena)
[$360m](/topic/$360m)
[strategy](/topic/strategy)
[stocks financial services](/topic/stocks-financial-services)
[stocks technology](/topic/stocks-technology)
[stocks bitcoin treasuries](/topic/stocks-bitcoin-treasuries)

[Post Link](https://x.com/_WhyWeb3/status/1948984552732667905)