StablecoinX has merged with TLGY Acquisition Corp. and is now listed on Nasdaq under the ticker USDE, offering public investors direct exposure to Ethena's stablecoin infrastructure. The company holds about $275 million in Ethena governance tokens (ENA), which ties its market value closely to Ethena adoption and ENA pricing. Despite a 70% drop in USDe supply since October, StablecoinX plans to grow through three business lines focused on Ethena infrastructure, software, and institutional distribution. This listing comes amid ongoing regulatory scrutiny of yield-bearing stablecoins and a cooling market for synthetic dollars like USDe.
Ethena (ENA) surged 13.22% early Monday but quickly lost gains, falling back below $0.09 amid rising token supply on exchanges. Over 300 million ENA tokens entered trading platforms last month, indicating increased selling pressure. The price failed ...
Ethena (ENA) gained 4.34% to $0.0941 with a 69.15% surge in trading volume, driven by the highest Daily Active Addresses since November 2025. The token formed a bullish inverse head-and-shoulders pattern and broke out of a descending channel, approac...
