Mexc Ventures has doubled its investment in the Ethena ecosystem, bringing its total exhibition to $ 66 million, according to a press release shared with Coindesk.
The last decision includes an investment of $ 14 million in ENA, the Ethena protocol governance token, based on a purchase of $ 16 million in ENA and an acquisition of $ 20 million from the USDE made earlier this year.
The USDE is a synthetic stablecoin designed to follow the value of the dollar without keeping traditional reserves. Instead, it uses a combination of guaranteed stablescoins and term contracts.
The Stablecoin market capitalization has almost tripled since early July, going from around $ 5.3 billion to now reach $ 14.65 billion. The traditional stablecoins supported by equivalents in cash and cash, including the US treasures, remain dominant, the USDT leader having a market capitalization of $ 174.7 billion.
Mexc Ventures, according to the press release, has already invested more than $ 100 million in 40 investment projects. He provided “improved empowerment support” to seven projects.
“We consider our role as manufacturers of ecosystems rather than passive investors,” said Leo Zhao, director of investments at Mexc Ventures.
