Mega Matrix emphasizes the Ethena ecosystem, aiming to capture market share from established stablecoin providers like Circle.
Positioning Ethena in Digital Assets
Mega Matrix (MPU) has made the Ethena ecosystem the focal point of its digital asset strategy. The company views the synthetic dollar project Ethena as a way to capture market share from platforms such as Circle. In light of the recent passage of the GENIUS Act, which introduces federal oversight for stablecoin issuers, Mega Matrix is targeting growth and development within Ethena.
Growth Potential of Ethena and Fee-Switch Mechanism
Colin Butler from Mega Matrix has expressed confidence in Ethena's growth potential, predicting it could reach $150 million in revenue within the next 6-12 months. He noted that the stablecoin USDe, which provides yield, might become a more attractive asset. Mega Matrix highlights Ethena's 'fee-switch' mechanism, which could enhance earnings for ENA token holders, although no activation date has been announced.
Mega Matrix's Prospects in Stablecoin Market
Mega Matrix plans to utilize its reserves to fund the development of the Ethena ecosystem. The company aims to attract retail investors by providing access to stablecoin strategies through stocks, which previously was only available through Circle. Mega Matrix began exploring blockchain in 2021 and officially repositioned itself as a digital asset treasury in 2025.
With the growing focus on the Ethena ecosystem, Mega Matrix sees the opportunity for considerable growth in the stablecoin market, which could have implications for both the company and the broader cryptocurrency landscape.
