Ethena (ENA) is currently experiencing a surge in popularity following the announcement of a $530M funding round from StablecoinX, bringing the total raised to $890M ahead of its NASDAQ listing. This is a positive signal that investors shouldn't ignore.
--
🔹 Key Highlights: Why ENA is Attractive
1. Huge Funding Backing
StablecoinX Prepares to Hold 3 Billion ENA in Its Portfolio
The latest funding round represents 14% of the circulating ENA market capitalization.
A $310M buyback program was implemented to recapture liquidity → reducing supply.
2. New Stablecoin Model
Ethena creates USDe and USDtb without traditional reserves.
Using a Delta-Neutral Hedging Model → capturing yield from the crypto market to generate revenue.
USDe recently reached a $12.6B supply within 10 months → growing significantly faster than both USDT and USDC.
3. Rapid Ecosystem Growth
Ethena has become the third-largest stablecoin issuer, after Tether and Circle.
The system's cumulative revenue has exceeded $500M, generating $13M per week.
The GENIUS Act supports USDtb's path to compliance in the US.
4. Institutional Signals
Large-cap investors such as Brevan Howard, Dragonfly, ParaFi Capital, and IMC Trading have joined the investment.
This increases the project's liquidity and credibility.
💡 Strategic Perspective
The Buyback Program will reduce the ENA circulating supply, similar to a buyback stock → the price has structural support.
The rapidly growing demand for USDe/USDtb stablecoins → drives sustainable demand for $ENA.
The preparation for listing on the NASDAQ market makes it more accessible to institutions and large investors.
📝 Summary
ENA is more than just a typical stablecoin platform token. It offers:
massive liquidity
a real-world, profitable business model
support from institutions and large investors
and a buyback plan worth hundreds of millions of dollars.
This is one project that demonstrates how stablecoins, yield, and institutions can come together to create a large ecosystem, and ENA may be the key to this round of growth. 🔥$ENA
