Grayscale’s addition of ENA to its DeFi Fund helped set off Athena’s strongest community progress day in over three months.
Athena recorded its largest single day of community progress in additional than three months on Might 12, because the variety of newly created wallets surged alongside a pointy rise in whale exercise.
Within the meantime, whale transactions involving the ENA token additionally climbed to their highest degree in 5 weeks.
Community Exercise and Whale Progress
Crypto analytics platform Santiment linked the rise in exercise to a number of main developments surrounding the protocol within the days main as much as Might 12.
As an example, asset administration large Grayscale Investments added ENA to its DeFi Fund with a 13.59% allocation, a transfer considered as a significant step in the direction of institutional adoption. Santiment mentioned the inclusion possible contributed to the creation of recent custody wallets.
Consideration on the protocol intensified additional after a $310 million USDC switch from an Athena-linked pockets on Might 8 and the suspension of a LayerZero bridge on Might 9. The rising anticipation surrounding Athena’s upcoming payment swap activation and anticipated governance vote could possibly be yet one more issue at play.
ENA has fallen greater than 85% from the highs it reached in August 2025 because the broader crypto market confronted heavy promoting stress. Nonetheless, the token confirmed indicators of restoration over the previous month with a gradual upward transfer. However recent promoting stress on Thursday erased a part of these features, leaving ENA up by lower than 20% for the month.
Athena USDe Enlargement
In a separate ecosystem improvement, Athena’s USDe stablecoin is being integrated into a brand new institutional-focused lending market launched on Solana-based DEX aggregator Jupiter by means of its Jupiter Lend product. The brand new providing was developed in partnership with Bitwise Asset Administration and Fluid.
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The launch additionally represents the primary time a conventional asset supervisor has curated a lending market on Jupiter Lend. Bitwise mentioned Athena’s growth into the Solana ecosystem and its rising institutional presence align with its long-term view on on-chain finance and DeFi adoption.