Ethena Price Surges 22% Following Arthur Hayes’ $11.09M Investment
Ethena (#ENA) has recently attracted market attention due to a significant price increase. In the last 24 hours, ENA's value rose over 22.5%, reaching a peak of $0.7588. As of publication, it had retraced slightly but remained up 14.13% at $0.7213.
BitMEX Co-Founder Arthur Hayes Moves $11.09M into Ethena
A link has emerged between ENA’s bullish trend and BitMEX co-founder Arthur Hayes. On November 26, Hayes liquidated his entire holding of Aethir (ATH), incurring an estimated loss of $815,000 after months without returns.
However, this decision proved beneficial as Hayes's ENA investments reportedly yielded unrealized profits of $1.14 million shortly thereafter, indicating he recovered his losses and potentially gained additional profits.
Hayes withdrew 16.79 million ENA tokens from Binance, investing approximately $11.09 million, contributing to the upward price movement of ENA.
ENA’s Momentum and Future Prospects
Data from CoinGlass indicates that open interest in ENA surged by 23% to $374 million, with total liquidations reaching $1.29 million, $956,000 of which is attributed to short positions. This suggests a bullish sentiment in the market.
Investor confidence appears to be rising as the Ethena blockchain's total value locked (TVL) increased to $4.09 billion. Analysts are monitoring the $0.75 support level; if maintained, it could enable ENA to climb toward $1, with optimism surrounding a potential revisit of its all-time high of $1.50.
Hayes continues to establish himself as a strategic investor, having experienced similar successes with Solana-based meme coins such as Goatseus Maximus and FlowerAI (FLOWER).