MEXC Ventures Increases Investment in Ethena
MEXC Ventures, the investment arm of the MEXC crypto exchange, announced a $30 million investment in Ethena’s governance token, ENA. This was revealed at the ongoing Token2049 conference.
With this new funding round, MEXC Ventures has committed a total of $66 million to the Ethena ecosystem. Earlier this year, the firm invested $16 million in Ethena and purchased $20 million worth of USDe, Ethena’s synthetic stablecoin.
Ethena’s Growth and Partnerships
Ethena focuses on providing a stable digital dollar and easy governance participation through its ENA token. The project has expanded by partnering with Based to integrate USDe into the Hyperliquid ecosystem.
Cecilia Hseuh, Chief Strategy Officer at MEXC, said, “Our second investment in ENA reflects our commitment to backing the Ethena ecosystem—from the protocol itself to its governance token.” She added that MEXC offers technical, operational, and marketing support beyond financial backing.
On September 8, CCN analyst Valdrin Tahiri noted that Ethena’s expansion and treasury-backed buying strategy could boost ENA’s price. However, he warned that price movements near key resistance levels will be crucial.
ENA Token Price Rises Following Investment News
Following the announcement, ENA’s price rose 7.19% to $0.58. The token’s market capitalization reached $4.03 billion.
MEXC Ventures has invested over $100 million in 40 blockchain projects over the past two years. Seven projects have received “empowerment support,” which includes marketing, operational help, and trading infrastructure.
Leo Zhao, Investment Director at MEXC Ventures, said, “Our synergistic approach combining exchange operations, strategic investments, and comprehensive project support creates unique value for our portfolio companies.”
