Mega Matrix Invests $6 Million in ENA Tokens, Holding 8.46 Million Units
According to the company’s official statement, Mega Matrix expanded its ENA holdings to $6 million under its treasury reserve strategy, despite mixed market reactions and a recent 2.49% share price dip.
According to its official announcement, Mega Matrix has executed a second $3 million purchase of Ethena’s ENA token, bringing its total investment to approximately $6 million. The Singapore-based company now holds 8.46 million tokens at an average cost of $0.7165. The accumulation was carried out using a one-day volume-weighted average price model as part of its DeFi Asset Treasury (DAT) strategy, unveiled last week. Mega Matrix previously filed a universal shelf registration with the SEC on September 4, allowing it to potentially raise up to $2 billion to support this initiative. While the company views ENA as strategic governance equity within stablecoin ecosystems, its shares fell 2.49% in pre-market trading following the announcement, contrasting with a 15% rally after the first ENA purchase on September 12.
- ENA Token: The governance token of Ethena, positioned by Mega Matrix as strategic equity within stablecoin ecosystems.
- Stablecoin Governance Token (DAT): A treasury reserve strategy by Mega Matrix focused on accumulating governance tokens of stablecoin ecosystems to gain influence and strategic positioning.