25.07.2025 09:24

Arthur Hayes, the BitMEX co-founder, recently made a significant investment, acquiring $1 million worth of Ethena (ENA) tokens within a mere seven hours. This purchase significantly bolsters his existing Ethereum ecosystem holdings, demonstrating continued confidence in the project. The transaction involved the strategic use of three separate exchanges – Binance, Galaxy Digital, and Flowdesk – according to on-chain analyst EmberCN. This multi-pronged approach suggests a deliberate and well-planned investment strategy.


Adding to the excitement surrounding ENA, a mysterious wallet transferred a staggering 1.23 billion ENA tokens (approximately $567 million) from Coinbase Prime. This substantial movement catapulted the wallet into the position of the fourth-largest ENA holder, further fueling market speculation. The 24-hour trading volume for ENA surged past $1 billion, reflecting a remarkable 30% increase, alongside a 15% price jump to approximately $0.54. Currently, the market capitalization sits at $3.4 billion.


Technical analysis suggests further potential upside for ENA. A bull flag pattern has emerged on the one-hour chart, indicating a possible 42% price breakout towards $0.70 or higher. This bullish technical signal adds to the positive sentiment surrounding the token. Hayes' average purchase price for ENA was $0.386, meaning his current holdings are already yielding substantial unrealized gains.


The rally in ENA is also fueled by the remarkable performance of USDe, the stablecoin within the Ethena ecosystem. As noted by analyst Axel Bitblaze, USDe saw an incredible $2 billion influx within a single week. This significant capital inflow into the Ethena ecosystem directly supports ENA’s price appreciation, underscoring the interconnectedness of the project's various components. The information was obtained from internet sources.