Ethena's Buyback Paradox: 27% Pump, 87 Wallets, and a Formula That Self-Contradicts
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Fear
Market Sentiment
92 million ARB released
Circulating supply increases by about 2%
Independent validator client goes live on mainnet
Improves data availability sampling efficiency
Team and early investor shares released
Block reward reduced to 3.125 BTC
Raises validator limit and account abstraction
Block reward halving event
Bitcoin Season