Ethena token rallies over 12% following StablecoinX’s $530 million capital raise

Ethena’s ENA token leaped over 12% on Saturday following information that StablecoinX Inc. secured a further $530 million capital elevate. The transfer is a part of StablecoinX’s ongoing accumulation technique for ENA, considerably growing its token holdings within the Ethena ecosystem.

StablecoinX expands ENA holdings

StablecoinX has now raised a complete of $895 million in non-public funding in public fairness (PIPE) financing. This funding is predicted to provide the agency management of greater than 3 billion ENA tokens as soon as transactions shut, positioning the corporate as a significant participant in Ethena’s ecosystem. Marc Piano, Director on the Ethena Basis, commented:

“This extra capital strengthens ecosystem resilience, deepens ENA liquidity, and helps the sustainable development of USDe, USDtb, and future Ethena merchandise.”

The rise in scale may also permit StablecoinX to increase into extra institutional channels, entice protection from main buyers and analysts, and construct a top-tier management staff.

StablecoinX acknowledged that this transfer is a part of a deliberate, long-term capital allocation technique, designed to maximise publicity to the rising demand for digital {dollars} whereas compounding ENA development for stakeholders.

Buyback program to help ENA value

In step with the strategy taken throughout its preliminary PIPE elevate, StablecoinX will use the brand new money proceeds to amass tokens instantly from an Ethena Basis subsidiary. Ethena confirmed that the subsidiary will provoke a $310 million buyback over the following six to eight weeks via third-party market makers.

At present market ranges, this new program, together with liquidity contributions from third-party PIPE buyers, represents about 13% of ENA’s circulating provide.

This buyback is along with the sooner program accomplished over the previous six weeks, which absorbed round 7.3% of the provision. Importantly, the Ethena Basis retains veto energy over any future ENA gross sales by StablecoinX.

Defiance Capital CEO Arthur Cheong commented:

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“That is probably the most token holder-aligned DAT financing construction amongst all of the DAT raises we’ve seen.”

Strengthening alignment between StablecoinX and Ethena

The connection between StablecoinX and the Ethena Basis emphasizes strategic alignment and long-term worth creation. Future capital raises geared toward buying extra locked ENA will channel proceeds instantly into buying spot ENA, additional reinforcing market demand.

The buybacks and treasury commitments create ongoing, programmatic help for ENA’s token value whereas additionally instilling confidence in buyers. By securing practically $900 million in financing tied on to ENA and implementing structured buybacks, StablecoinX is strengthening each the liquidity profile and institutional credibility of the token.

Finest instance of DeFi legos at the moment

The market responded swiftly, with ENA climbing over 12% after the announcement as merchants interpreted the large-scale buyback and capital elevate as an indication of robust institutional backing.

Ethena has established a big presence within the DeFi sector by providing high-yield alternatives and attracting speedy capital inflows in 2025. Its artificial stablecoin, USDe, crossed $12 billion in provide this 12 months, marking it as one of many fastest-growing belongings available in the market and the third-largest stablecoin by market capitalization.

The platform’s distinctive strategy permits customers to stake their USDe to obtain sUSDe, with present staking rewards yielding about 8–9% APY for sUSDe and as much as 29% APY for core staking incentives, making it a well-liked selection amongst yield-seeking buyers.

The ecosystem has additionally benefited from substantial institutional adoption, multi-chain integrations, and strategic partnerships, comparable to with Aave and Pendle, which additional improve liquidity and capital effectivity for customers.

As of August 2025, Ethena reported greater than $500 million in cumulative protocol income, and weekly income peaked at $13.4 million, highlighting its efficiency and standing as a pacesetter amongst yield-generating DeFi protocols. As BlockWorks cofounder Jason Yanowitz acknowledged:

“The success of Ethena (issuer) + Pendle (yield market) + Aave (cash market) feels beneath mentioned. By far the most effective instance of defi legos that exists at the moment”