MEXC Ventures Increases Ethena Investment to $66 Million
- MEXC Ventures increased its investment in the Ethena ecosystem to a total of $66 million.
- The recent investment includes $14 million in ENA, Ethena's governance token.
- This follows previous investments: a $16 million ENA purchase and a $20 million acquisition of USDe earlier this year.
- USDe is a synthetic stablecoin that tracks the dollar using collateralized stablecoins and futures contracts.
- USDe's market cap grew from $5.3 billion to $14.65 billion since early July.
- Traditional stablecoins like USDT remain dominant with a $174.7 billion market cap.
- MEXC Ventures has invested over $100 million in 40 projects and supported seven projects with "enhanced empowerment."
- Leo Zhao, MEXC Ventures' Investment Director, stated their commitment as "ecosystem builders."
