MEXC's $16M Investment in Ethena Boosts USDe TVL by 14%

MEXC, a prominent global cryptocurrency exchange, has recently made significant strides in expanding its stablecoin offerings. The exchange, which was founded in 2018, has a mission to make crypto more accessible to everyone and to build trust within the community. As part of its long-term strategy, MEXC has made a substantial investment of $16 million in Ethena, a leading innovator in the stablecoin space. This investment follows MEXC’s recent acquisition of $20 million worth of USDe, Ethena’s synthetic dollar, which has had a notable impact on the crypto market.

The acquisition of USDe has led to a surge in ENA’s trading volume and has boosted USDe’s total value locked (TVL). In May 2025, the TVL of USDe in MEXC reached a value above $100 million, making it the second-largest holder of USDe TVL among centralized exchanges. This growth is part of a broader trend, as the circulating supply of USDe has reached nearly $5.2 billion, making it the fourth-largest stablecoin by market capitalization. The stability of USDe is backed by several factors, including its price stability and Ethena’s unique strategy for maintaining the dollar peg, which combines derivatives and on-chain liquidity.

To encourage users to experience and trade USDe, MEXC has launched several events and promotional campaigns. One such campaign features an impressive prize pool of $1 million. Other incentives include zero trading fees, presented as a limited-time Trader’s Fest, aimed at attracting both crypto professionals and newcomers. Within this offering, traders can take advantage of zero-fee trading pairs. Additionally, MEXC has introduced exclusive staking rewards with generous APRs, targeted at various crypto user groups. These incentives offer simplicity, innovation, and customization, driving the industry as a whole and building confidence among market participants by promoting stablecoins as a more trustworthy instrument and emphasizing transparency and security of operations.

These efforts have had a significant impact on the crypto market. For instance, in March, the quantity of ENA holders increased by 30%, ENA TVL increased by 14%, and the daily trading volume of ENA increased by 885%. The average spot daily trading volume in March increased by 557% compared to February’s numbers. By May 2025, ENA’s market capitalization reached 1.96 billion USD, marking a substantial growth from February 2025, when its market cap was approximately half that amount at 1.07 billion USD.

MEXC’s investments in innovative and secure instruments emphasize its values and set positive trends for the crypto industry in the long term. The exchange, which serves over 40 million users across 170+ countries, is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Its user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.