by Key Takeaways
- In recent weeks, Pantera Capital has started buying Ethena coins.
- On November 28 and 29, tokens totaling almost $8 million were added.
- Ethena’s price increased by 93.7% in 30 days, from $0.32 to $0.75.
Ethena (ENA) has received an investment of $8 million from Pantera Capital, a well-known institutional asset management firm in the United States.
Over the past few weeks, Pantera Capital has been steadily increasing the amount of ENA in its portfolio, based on data from Nansen.
Additionally, token holders’ overall balance increased steadily from $140 million to $160 million during November. The balance had been essentially stable in the preceding months; therefore, this represents the growth.
In a month, ENA’s price increased by about 100%.
ENA’s impressive performance in November may be the cause of this increased institutional interest. The coin has increased by 93.7% in 30 days, from $0.32 to $0.75, according to CoinGecko.
The Ethereum (ETH)-based Ethena protocol offers a synthetic dollar, or USDe, with an annual percentage yield (APY) of 29%.
With $4.3 billion, the protocol ranks 10th in Total Value Locked (TVL), securing the top spot in decentralized finance (DeFi). Over the previous month, Ethena’s TVL has increased by 58.56%, overtaking Pendle (PENDLE), which is currently in ninth place with $4.1 billion in TVL.
Supply of USDe hits ATH
Additionally, there has been a notable increase in the supply of USDe, Ethena’s synthetic dollar, in November.
Dune reports that the supply increased 51.85% from 2.7 billion at the beginning of the month to 4.1 billion on November 28.
