Pump.fun’s PUMP token has completed more than $205 million in cumulative buybacks, the highest among all Solana protocols. Pump.fun is now placed ahead of Raydium, which was the leader for years due to its deep liquidity pools. The buyback engine has removed a massive 13.8% of the circulating supply in only five months, a clear indication of growing demand. Pump.fun uses daily revenue to purchase PUMP directly from the open market. On-chain dashboards show how consistent these buybacks have been. On Dec ...

Group 1 - Jito Foundation has raised $50 million in a private token sale led by Andreessen Horowitz's a16z crypto to scale its infrastructure and expand developer tools [1] - Jito's main products include a validator client optimized for Solana and JitoSOL, a liquid staking token with a market cap exceeding $3.2 billion [2] - The funding will support the development of the Block Assembly Marketplace (BAM), which was launched in September [3] Group 2 - Brian Smith, president of Jito Foundation, emphasized that the funding aims to enhance value extraction and improve network transparency for Solana users [4] - A proposed VanEck JitoSOL ETF filed with the SEC could provide traditional investors with regulated access to staking yields from JitoSOL [4] - Ali Yahya from a16z crypto stated that Jito is positioned to lead the next growth phase of the Solana ecosystem through foundational tools like BAM [5]

Core Insights - Ethena's native token ENA experienced a 5% intraday rally on September 23, despite a generally bearish sentiment in the crypto market [1] - The rally followed a decline of over 20% in ENA's value after the Federal Reserve's rate cut on September 18, which negatively impacted demand for USD-pegged assets [2] - Kraken exchange's announcement of an upcoming listing for Ethena's USD-pegged stablecoin, USDe, has been linked to the recent price rebound [3] Market Performance - ENA's price rebounded to $0.61, recovering from a five-day losing streak, although trading volume decreased by 32% in the last 24 hours [2] - USDe's market capitalization reached $14.4 billion, representing 4.5% of the $300 billion global stablecoin market [4] Institutional Support - YZi Labs Investment has increased its stake in Ethena, indicating growing institutional confidence as the regulatory environment for stablecoins in the US has improved [3] Technical Analysis - The Keltner Channels indicate that ENA is consolidating near the lower boundary at $0.58, with resistance levels at $0.68 and $0.74 [5] - The MACD remains bearish, but narrowing histogram bars suggest a potential bullish crossover if momentum increases [6] Market Sentiment - The future price movement of ENA will depend on whether the Kraken listing can sustain buying pressure or if traders will take profits amid declining volumes [7]