Mega Matrix has executed a second $3 million ENA purchase. This brings its total haul to $6 million, signaling a commitment to its governance-token strategy and broader DeFi ambitions.
Summary
- Mega Matrix adds another $3 million in Ethena’s ENA, bringing total holdings to $6 million.
- The move is part of its new DeFi Asset Treasury (DAT) strategy focused on stablecoin governance tokens.
- Shares dipped 2.49% in pre-market despite the company’s long-term vision.
According to a press release dated September 19, the Singapore-based holding company Mega Matrix (NYSE: MPU) has completed a systematic accumulation of Ethena’s (ENA) token, now totaling approximately $6 million.
The company said it acquired 8.46 million tokens at an average price of $0.7165, with $3 million of that total purchased in the week leading up to the announcement.
Mega Matrix management confirmed this methodical accumulation, executed using a one-day volume-weighted average price model, is a direct continuation of the DeFi Asset Treasury (DAT) strategy it launched last week.
“Following our launch of MPU’s Stablecoin Governance Token Treasury Reserve strategy, we have further expanded our holdings of ENA and will continue executing weekly accumulations based on market conditions, strengthening our commitment to building the premier treasury reserve for stablecoin governance tokens,” the management said.
Mega Matrix’s stablecoin governance token treasury strategy
Mega Matrix unveiled its DAT strategy to the public on September 12 with an inaugural $3 million ENA purchase. However, its blueprint was laid out just over a week prior. On September
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Author: Brian Danga
