Overview

• Arthur Hayes boosted his position to 7.76 million ENA tokens after acquiring 2.16 million tokens on July 25, signaling renewed whale confidence.
• StablecoinX launched a $260 million allocation into ENA by executing daily $5 million treasury purchases for a six-week period.
• Ethena’s total value locked climbed above $7.19 billion, according to DeFi Llama, while USDe stablecoin supply returned to an all-time high above $6 billion.
• Ethena will issue USDtb through Anchorage Digital under the GENIUS Act, backing the stablecoin with tokenized short-term U.S. Treasury assets such as BlackRock’s BUIDL fund.
• Analysts emphasize that ENA offers one of the only pure-play exposures to stablecoins and that venture-capital supply overhang has been largely neutralized.