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Ethena’s ENA token leaped implicit 12% connected Saturday pursuing quality that StablecoinX Inc. secured an further $530 cardinal superior raise. The determination is portion of StablecoinX’s ongoing accumulation strategy for ENA, importantly expanding its token holdings successful the Ethena ecosystem.
StablecoinX expands ENA holdings
StablecoinX has now raised a full of $895 cardinal successful backstage concern successful nationalist equity (PIPE) financing. This backing is expected to springiness the steadfast power of much than 3 cardinal ENA tokens erstwhile transactions close, positioning the institution arsenic a large subordinate successful Ethena’s ecosystem. Marc Piano, Director astatine the Ethena Foundation, commented:
“This further superior strengthens ecosystem resilience, deepens ENA liquidity, and supports the sustainable maturation of USDe, USDtb, and aboriginal Ethena products.”
The summation successful standard volition besides let StablecoinX to grow into much organization channels, pull sum from starring investors and analysts, and physique a top-tier enactment team.
StablecoinX stated that this determination is portion of a deliberate, semipermanent superior allocation strategy, designed to maximize vulnerability to the rising request for integer dollars portion compounding ENA maturation for stakeholders.
Buyback programme to enactment ENA price
Consistent with the attack taken during its archetypal PIPE raise, StablecoinX volition usage the caller currency proceeds to get tokens straight from an Ethena Foundation subsidiary. Ethena confirmed that the subsidiary volition initiate a $310 cardinal buyback implicit the adjacent six to 8 weeks done third-party marketplace makers.
At existent marketplace levels, this caller program, on with liquidity contributions from third-party PIPE investors, represents astir 13% of ENA’s circulating supply.
This buyback is successful summation to the earlier programme completed implicit the past six weeks, which absorbed astir 7.3% of the supply. Importantly, the Ethena Foundation retains veto powerfulness implicit immoderate aboriginal ENA income by StablecoinX.
Defiance Capital CEO Arthur Cheong commented:
“This is the astir token holder-aligned DAT financing operation among each the DAT raises we’ve seen.”
Strengthening alignment betwixt StablecoinX and Ethena
The narration betwixt StablecoinX and the Ethena Foundation emphasizes strategical alignment and semipermanent worth creation. Future superior raises aimed astatine acquiring much locked ENA volition transmission proceeds straight into purchasing spot ENA, further reinforcing marketplace demand.
The buybacks and treasury commitments make ongoing, programmatic enactment for ENA’s token terms portion besides instilling assurance successful investors. By securing astir $900 cardinal successful financing tied straight to ENA and implementing structured buybacks, StablecoinX is strengthening some the liquidity illustration and organization credibility of the token.
Best illustration of DeFi legos today
The marketplace responded swiftly, with ENA climbing implicit 12% aft the announcement arsenic traders interpreted the large-scale buyback and superior rise arsenic a motion of beardown organization backing.
Ethena has established a important beingness successful the DeFi assemblage by offering high-yield opportunities and attracting accelerated superior inflows successful 2025. Its synthetic stablecoin, USDe, crossed $12 cardinal successful proviso this year, marking it arsenic 1 of the fastest-growing assets successful the marketplace and the third-largest stablecoin by marketplace capitalization.
The platform’s unsocial attack allows users to involvement their USDe to person sUSDe, with existent staking rewards yielding astir 8–9% APY for sUSDe and up to 29% APY for halfway staking incentives, making it a fashionable prime among yield-seeking investors.
The ecosystem has besides benefited from important organization adoption, multi-chain integrations, and strategical partnerships, specified arsenic with Aave and Pendle, which further heighten liquidity and superior ratio for users.
As of August 2025, Ethena reported much than $500 cardinal successful cumulative protocol revenue, and play gross peaked astatine $13.4 million, highlighting its show and presumption arsenic a person among yield-generating DeFi protocols. As BlockWorks cofounder Jason Yanowitz stated:
“The occurrence of Ethena (issuer) + Pendle (yield market) + Aave (money market) feels nether discussed. By acold the champion illustration of defi legos that exists today”
The station Ethena token rallies implicit 12% pursuing StablecoinX’s $530 cardinal superior raise appeared archetypal connected CryptoSlate.
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