Mega Matrix has launched its ambitious $2 billion DeFi plan with the purchase of 3.86 million ENA tokens, marking a major move away from its traditional business and toward building governance influence within decentralized finance.
Highlights:
- Around $3 million was spent to acquire 3.86M ENA tokens.
- The company plans weekly ENA purchases as part of its DeFi Asset Treasury roadmap.
- Shares surged 15% in pre-market trading after the announcement.
The acquisition, completed over a two-week period, averaged $0.7117 per ENA, including fees, using a volume-weighted pricing approach. Company leaders emphasized that this is only the starting point, with a structured accumulation plan set to continue on a weekly basis, subject to market conditions.
The bigger picture
Earlier this month, Mega Matrix filed a shelf registration that gives it the flexibility to raise up to $2 billion over the next three years. These funds will fuel its DeFi Asset Treasury strategy, where ENA tokens play a central role. According to management, governance tokens such as ENA are viewed as “the equity of stablecoin ecosystems,” granting holders a seat in shaping the future of decentralized finance.
Investor sentiment turned positive following the announcement. Shares climbed 15% to $1.94 in pre-market trading, a sharp turnaround compared to the dip seen when the initial $2 billion plan was first unveiled.
