Mexc Ventures has doubled its investment in Ethena’s ecosystem, which causes total exposure to $ 66 million, according to a press release shared with Coindesk.
The last movement includes an investment of $ 14 million in ENA, the Government Sheet of the Ethena protocol, which is based on a purchase of $ 16 million and the acquisition of $ 20 million USDE made earlier this year.
USDE is a synthetic stablcoin designed to track the value of the dollar without having traditional reservations. Instead, it uses a combination of collateralized stable and futures contracts.
The market capitalization of Stablecoin has almost tripled since the beginning of July around $ 5.3 billion for now at $ 14.65 billion. Traditional stable backed by cash and cash equivalents, including US treasurers, remain dominant, and USDT leader has a market capitalization of $ 174.7 billion.
Mexc Ventures, according to the press release, has already invested more than $ 100 million in 40 investment projects. It has provided “improved empowerment support” to seven projects.
“We see our role as ecosystems builders instead of passive investors,” said Leo Zhao, Investment Director of Mexc Ventures.
