On July 22, 2025, StablecoinX announced a $360 million raise to acquire locked ENA tokens from the Ethena Foundation. This transaction is aimed at preparing for a Nasdaq listing under 'USDE'.
NYSE Listing and Investor Interest
StablecoinX, formed through a SPAC merger, has secured $360 million for acquiring ENA tokens over the coming weeks, primarily from Ethena Foundation's subsidiary. The financing reflects growing interest from major investors, including Pantera Capital.
ENA Token Value Increase
Following the announcement, ENA tokens experienced a 9% increase, reaching $0.5275 amid heightened market confidence. This value rise is partly attributed to strategic investment practices.
Historical Context and Expert Analysis
ENA's participation in the market surged by over 107% in the past 30 days, indicating a pivotal shift in token engagement. As of July 22, 2025, ENA had a market cap of approximately $3.25 billion, confirming investor interest.
The strategic moves by StablecoinX, including the acquisition of ENA tokens and preparations for listing, underscore growing interest from investors and the potential for further ENA growth in the market.
