Ethena’s Recent Developments and Market Movements

Ethena, a prominent cryptocurrency, has recently experienced significant market activity and strategic developments. As of July 25, 2025, Ethena’s close price was recorded at $0.471169, with a market capitalization of approximately $3.06 billion. The cryptocurrency has seen a notable fluctuation over the past year, reaching a 52-week high of $1.32773 on December 15, 2024, and a low of $0.195271 on September 5, 2024.

Strategic Partnership with Anchorage

A major catalyst for Ethena’s recent surge is its strategic partnership with Anchorage Digital. The collaboration aims to launch USDtb, a stablecoin compliant with the GENIUS Act, marking it as the first of its kind in the U.S. This partnership has been pivotal, with Ethena’s token (ENA) experiencing a 15.7% increase in value over 24 hours following the announcement. The stablecoin is expected to have a market value of $1.5 billion, aligning with the regulatory framework recently enacted under the Trump administration.

Market Reaction and Key Investments

The market has responded positively to these developments. Notably, Arthur Hayes, the co-founder of BitMEX, has invested $1.06 million in Ethena, acquiring 2.16 million ENA tokens. This investment has contributed to an 8% rise in ENA’s price, further boosting its market performance. Hayes now holds approximately 7.76 million ENA coins, valued at around $3.66 million.

Regulatory Compliance and Market Positioning

The partnership with Anchorage Digital is a strategic move to ensure regulatory compliance under the GENIUS Act, which is expected to enhance consumer demand for stablecoins. This compliance positions USDtb as a pioneering stablecoin in the U.S. market, potentially setting a precedent for future regulatory-compliant digital assets.

Conclusion

Ethena’s recent activities, including its partnership with Anchorage and significant investments from key figures like Arthur Hayes, have positioned it as a leading player in the cryptocurrency market. The launch of USDtb under the GENIUS Act compliance framework is a significant milestone, potentially influencing the broader stablecoin market in the U.S. and beyond.