Ethena, a synthetic dollar protocol, is rapidly gaining traction through significant investments and strategic partnerships. MEXC Ventures has increased its investment in Ethena to $66 million, while M2 Capital and YZi Labs have also made substantial contributions, indicating strong institutional confidence. The Sui blockchain will soon host Ethena's native stablecoins, USDi and suiUSDe, in collaboration with BlackRock's tokenized fund, highlighting Ethena's expanding influence in the stablecoin market.
As Ethena's total value locked (TVL) approaches $15 billion, the protocol is poised for further growth with the backing of prominent investors like Arthur Hayes and BlackRock executives. The upcoming governance vote on Ethena's revenue-sharing framework for ENA holders and the push for broader USDe adoption across multiple chains underscore the protocol's commitment to innovation and market expansion. These developments position Ethena as a key player in the evolving cryptocurrency landscape, with potential implications for stablecoin adoption and blockchain integration.
Ethena (ENA): A Rising Star in the Crypto Market
October 07, 2025
1 min read
Ethena, a synthetic dollar protocol, is rapidly gaining traction through significant investments and strategic partnerships. MEXC Ventures has increased its investment in Ethena to $66 million, while M2 Capital and YZi Labs have also made substantial contributions, indicating strong institutional confidence.