#ENA Ethena (ENA) recorded a growth of over 12% in the last 24 hours, with the token trading at $0.75 and daily volumes jumping by 122% to $1.48 billion, according to data from CoinMarketCap.

The rise followed the news that StablecoinX Assets Inc. – a validator and infrastructure company associated with the Ethena ecosystem – has secured an additional $530 million through private investment in public equity.
The round is announced jointly with TLGY Acquisition Corp. and complements the $360 million funding from July, bringing total commitments to $890 million. Among the investors are YZi Labs, Brevan Howard, Susquehanna Crypto, and IMC Trading, as well as already established participants such as Dragonfly and ParaFi Capital.
The funds will support StablecoinX's strategy to accumulate over 3 billion ENA tokens within the reserve. Part of the capital will be used to acquire locked ENA tokens at a discount directly from a subsidiary of Ethena Foundation, with the foundation committing to buy ENA from public markets to strengthen liquidity. The foundation confirmed that it has already launched a buyback program worth $310 million, which adds to the initial $260 million – a total of $570 million. The organization stated that the partnership with StablecoinX strengthens ENA's liquidity and supports the development of stablecoins USDe and USDtb.
With a market capitalization of $5.16 billion and a locked value of (TVL) of $12.81 billion, Ethena remains among the top 30 cryptocurrencies. Today's increase reflects the restored confidence of investors that serious capital and an active reserve accumulation strategy will solidify ENA's central role in the stablecoin ecosystem.