#美国非农数据超预期 This move is actually quite obvious, the on-chain data has already started to speak.

First, let's look at the funding side. In the past three weeks, a major player directly withdrew nearly 300 million ENA, which amounts to about 86 million dollars. Such a level of operation is unlikely to be a short-term speculation; it seems more like waiting for a certain switch to be turned on—such as the long-rumored "activation fee mechanism."

Looking at the track again. Stablecoins have recently been viewed pessimistically from various perspectives, but from another angle, can future narratives avoid stablecoins? Clearly not. ENA is stuck at this position, and the ceiling is actually much higher than it appears.

Finally, there is the correlation. After stabilizing over the past two weeks, the rebound of ENA is clearly stronger than that of other cryptocurrencies, with funds continuously pouring in. This strong correlation proves that it is not just a trend-driven speculation, but is truly following its own rhythm.

To put it simply: if the spot price retraces to a low point, consider buying in batches. In a bull market cycle, seeing the range of 0.8 to 1 dollar is logically sound. $ENA $ENA