ENA Gains Spotlight With $1M Hayes Bet and Mega Matrix Push

• Arthur Hayes invests $1M in ENA, signaling precise self assurance in the mission.
• Mega Matrix makes ENA central to its treasury, projecting $150M earnings utter.
• Ethena’s USDe stablecoin surpasses $13B market cap, ranking third globally.

Ethena’s ENA has hasty turn into even handed one of essentially the most talked-about projects in crypto this week. The highlight grew brighter after Mega Matrix, a publicly traded firm, equipped ENA as the guts piece of its digital asset approach. At the same time, Arthur Hayes, co-founder of Maelstrom, published nearly $1 million in token purchases. These strikes highlight the rising self assurance surrounding Ethena’s stablecoin ecosystem and its repeat to grab a greater piece of the market.

Mega Matrix Builds Round Ethena

Mega Matrix has positioned itself as the first public treasury dedicated to Ethena. The corporate concentrates reserves in ENA, the governance token, and operates through a $2 billion shelf registration. This approach enables the firm to expand holdings progressively whereas signaling faith in the mission’s long-time frame vision. Colin Butler, government vice president of Mega Matrix, shared ambitious expectations with reporters. He projected that Ethena may perchance perchance generate $150 million in earnings within a year.

When put next with Circle’s contemporary efficiency, Butler described the target as a doable sixfold upside. The corporate’s history adds context to the pivot. Sooner than embracing crypto, Mega Matrix operated in leisure and sport publishing. Leadership started exploring blockchain in 2021 and formally repositioned as a digital asset treasury in 2025. This transformation displays a broader perception that blockchain-linked revenues can outpace outdated college sectors.

Hayes’ Wager and Market Dynamics

Arthur Hayes fueled extra pleasure with a string of ENA purchases price nearly $1 million. Data from Arkham Intelligence shows two separate rounds of looking out for all over several days. The timing closely matched Hyperliquid’s upcoming validator vote on the USDH ticker. Ethena hopes to govern that ticker whereas shifting trading pairs away from USDC.

Ethena’s pledge contains funneling 95% of earnings to Hyperliquid validators whereas covering migration charges. Analysts get this as a strategic switch to enhance substitute alignment and broaden adoption. Prediction markets for the time being lean toward a rival proposal, but Hayes’ bet has stirred debate. Some peruse his actions as personal positioning, whereas others elaborate them as oblique strengthen for Ethena’s campaign.

USDe’s fast utter has additionally intensified consideration on ENA’s future feature. Regulatory readability is emerging through the GENIUS Act, which devices federal oversight for stablecoins. If adopted, such oversight may perchance perchance toughen institutional self assurance and widen adoption. Wintermute Governance has already outlined parameters for distributing protocol revenues to ENA holders as soon as the cost-switch mechanism activates.

For now, pleasure spherical Ethena displays both utter and threat. Validator alignments, governance choices, and prediction markets will form outcomes in the impending days. What stays determined is that ENA has captured necessary hobby from both institutional and particular person investors. Mega Matrix has made ENA central to its treasury, projecting fast earnings utter.