Ethena (ENA) Surges 36%, Arthur Hayes Invests $11 Million in the Token

The post Ethena (ENA) Surges 36%, Arthur Hayes Invests $11 Million in the Token appeared first on Coinpedia Fintech News

With Ethena (ENA) soaring by nearly 36% in recent days, it’s catching the eye of big players in the crypto world. Prominently Arthur Hayes, the co-founder of BitMEX, has made headlines by moving his holdings to ENA. He recently accumulated 16.79 million ENA tokens, valued at approximately $11.21 million, signaling strong confidence in the token’s potential.

Arthur Hayes Buy 16.79 M ENA Token

According to Lookonchain, a blockchain analytical platform, Arthur Hayes has shifted his holdings from Aethir (ATH) to Ethene (ENA). 

In the last two days, Hayes has accumulated 16.79 million ENA tokens, worth an impressive $11.21 million. This strategic move has caught the attention of the crypto community, sparking curiosity about his motives and the potential of ENA.

Meanwhile, he hasn’t publicly shared the reasons for this move, many speculate that he sees significant growth opportunities in ENA. This endorsement from Hayes could be a game-changer for ENA.

Hayes’ Diverse Crypto Portfolio

Arthur Hayes isn’t just focused on Ethena. He has invested in a variety of tokens, including Ethereum (ETH), FLOWER, EETH, SUSDE, and PENDLE, demonstrating his wide-ranging interest in the crypto space.

Ethena’s Strong Market Performance

Ethena (ENA) has been performing strongly in the market recently, seeing a notable surge of around 12%, rising by $0.71. Coinglass data report that ENA’s open interest has increased by 23%, reaching $374 million. Meanwhile, liquidations have also surged to $1.29 million, with $335,000 in long liquidations and $956,000 in short liquidations.

Additionally, the Relative Strength Index (RSI) is climbing towards the 60 mark, suggesting a rise in buying momentum and a reduced risk of overbuying for now.