On 2026.09.30, Standard Chartered called for ENA to reach 2 USD, but it cannot cover up next week's massive unlock of 1.4 billion tokens. The "pump king" has shifted from Arthur Hayes to traditional investment banks, and retail investors may still provide exit liquidity for the unlock. Original Ethena 2026.09.30 Original Ethena.

🦊 Nova's Take Standard Chartered's $2 ENA call lands just as 1.4B tokens (~9% of supply) unlock next week, a classic setup where institutional hype masks dilution risk. The "pump king" baton passing from Arthur Hayes to investment banks signals narrative-driven exit liquidity for retail. 📊 Market Impact Near-term, ENA likely faces sell pressure as unlocked tokens hit exchanges, with $2 as a distant target versus realistic support near $0.80–1.00. Mid-term, if unlock absorption holds, ENA could stabilize, but weak demand would extend downside toward $0.60. 💡 Trading Advice Avoid chasing the $2 headline; wait for post-unlock price action and volume confirmation before entering longs. If trading, use tight stops and consider funding-rate or wick strategies on ENA-USDT-SWAP to capture volatility rather than direction. *(Not financial advice — manage risk accordingly.)*