MEXC Ventures Injects $36M into Ethena, Aiming to Capture Market Share

Amid a correction trend in crypto, MEXC Ventures has made a significant investment of $36 million in Ethena.

Crypto market activity remained low on Wednesday, as evidenced by Bitcoin’s neutral candle formation at $84,000. While lower-than-expected U.S. CPI data had potential to boost crypto prices, the prevailing selling pressure continues to limit the growth potential of the majority of altcoins.

As the falling Ethena price seeks support at a firm accumulation zone, institutional buying interest hints at potential for a bullish reversal of the ENA token.

Key Highlights:

MEXC Ventures Injects $36M into Ethena

In a significant move, MEXC Ventures has made a substantial investment of $36 million in Ethena, a protocol known for its innovative approach to decentralized stable assets.

The investment includes a $16 million purchase of Ethena’s native token, ENA, and a $20 million contribution in USDe, Ethena’s synthetic dollar. This investment highlights the growing interest in Ethena as a promising project in the cryptocurrency domain.

Generally, an accumulation trend from whales/institutions has led to a major market bottom and sustainable recovery. As the ENA token seeks support at a critical point, this institutional activity may be a pivotal factor in determining the next move of the ENA token price.

Ethena Price Consolidation – Key Levels to Watch

Ethena price analysis daily shows its prevailing downtrend has shifted sideways to seek the support of $0.34. Since mid-February 2025, the coin price has been consolidating between the horizontal levels of $0.48 and $0.34.

The coin price bounced several times from the aforementioned level indicating no clear initiation from buyers or sellers. With a four-day downfall, the coin price has recently plunged from $0.48 to $0.37 current trading value, registering a 22% loss.

If the trend continues, the ENA price could retest $0.34 support and recuperate the bullish momentum. The potential reversal must breach the overhead resistance to confirm the recovery moment.

On the contrary, the downsloping trend of daily EMAs (20, 50, 100, and 200) indicates the broader trend is bearish and the path to least resistance is down.

If the sellers breach the $0.34 support, the bullish thesis will get invalidated and the price may enter a prolonged downtrend.