StablecoinX Discloses Holding 3.03 Billion ENA Tokens After Merger With TLGY Acquisition Corp

StablecoinX said it holds about 3.03 billion ENA tokens following its business combination with TLGY Acquisition Corp. According to Foresight News, the company said this represents about 20% of ENA’s total supply. StablecoinX said the holding was valued using the 30-day volume-weighted average price of $0.0909 from two days before the market close, and it also provided a fully diluted per-share figure of about $11.42. The company said it currently has about 24 million Class A common shares outstanding. StablecoinX also said it has launched a decentralized verification node (DVN) that serves as a cross-chain message verifier for the Ethena ecosystem and charges fees based on processing volume. It added that its stablecoin middleware software, Stablecoin Harness, and its institutional stablecoin distribution service have not yet launched.