Mega Matrix has made its second $3 million ENA purchase. This brings the total to $6 million, indicating a governance token strategy and a broader commitment to rebellion.
summary
- Mega Matrix added another $3 million to Ethena’s ENA, bringing its total holdings to $6 million.
- This move is part of a new Defi Asset Treasury (DAT) strategy focusing on Stablecoin governance tokens.
- The stock fell 2.49% in the pre-market market despite the company’s long-term vision.
According to a press release dated September 19, Singapore-based holding company Mega Matrix (NYSE:MPU) has completed a systematic accumulation of Ethena (ENA) tokens, currently at around $6 million.
The company said it acquired 8.46 million tokens at an average price of $0.7165, and bought a total of $3 million that week until it was announced.
Mega Matrix Management is a direct continuation of the Defi Asset Treasury (DAT) strategy that we launched last week, confirming this systematic accumulation performed using a daily volume-weighted average pricing model.
“After the launch of MPU’s Stablecoin Governance Token Token Treasury Reserve Strategy, we will further expand our ENA holdings, continue to carry out weekly accumulation based on market conditions, and strengthen Stablecoin Governance Tokens’ commitment to building the best Treasury Reserve,” the management said.
You might like it too: BTC Inc. and Strategy agree to renew the five-year strategic partnership
Mega Matrix’s Stablecoin Governance Stoken Financial Strategy
Mega Matrix revealed its DAT strategy to the public on September 12th with its first $3 million ENA purchase. However, that blueprint was laid out over a week ago. On September 4th, the company filed a Universal Shelf Registration with the Securities and Exchange Commission.
The rationale for management targeting assets like ENA is to represent “equity in the Stablecoin ecosystem.” This framing is extremely important. The company is approaching these tokens not as speculative transactions, but as strategic assets that grant “the seat at the table where the future of money is coded.”
Mega Matrix appears to be betting that the power of governance over basic Defi protocols like Ethena will become an invaluable corporate asset, potentially generating yields, promoting partnerships, or providing competitiveness as the digital economy evolves.
However, this long-term vision clashed with short-term market skepticism following the latest announcement. Despite the company’s successful plan, MPU stocks fell 2.49% in pre-market trading. This response contrasts with the market’s response to its first ENA purchase on September 12, bringing together 15% of the stock.
read more: IG Group purchases Australia’s Crypto Exchange Independent Reserve
