Ethena experienced its largest network growth in over three months on May 12, driven by a surge in newly created wallets and increased whale activity. This growth coincided with Grayscale Investments adding ENA to its DeFi Fund with a 13.59% allocation, signaling heightened institutional interest. Additionally, significant transactions, including a $310 million USDC transfer and developments like the suspension of a LayerZero bridge, have intensified focus on Ethena. In a related development, Ethena's USDe stablecoin is being integrated into a new institutional lending market on Solana-based DEX aggregator Jupiter, in collaboration with Bitwise Asset Management and Fluid. This marks the first instance of a traditional asset manager curating a lending market on Jupiter Lend, aligning with Bitwise's long-term strategy for on-chain finance and DeFi adoption.