• The token surged 13.89%, closing at $0.6396, with a market cap up 10.68% to $1.82 billion.
  • Hayes added 4.916M ENA to his portfolio, signaling a strategic bet on the token’s rebound.

ENA soared 14% today, reaching $0.6435 and outperforming many market peers. The token’s market cap stands at $1.82 billion, reflecting a 10.68% increase in the past 24 hours. 

Arthur Hayes, Co-Founder of BitMEX and CIO, has significantly increased his position in Ethena (ENA). His latest crypto portfolio reveals a balance of $33.167 million, with a notable allocation to Ethereum and ENA. 

Hayes holds 5.082K ETH worth $16.9 million, 3.037K ETH in staked Ethereum (EETH) valued at $10.064 million, and 5.053 million ENA tokens currently valued at $2.89 million.

Recent portfolio transactions indicate a strategic shift. Hayes received 4.916 million ENA worth $2.8 million from Wintermute Trading, boosting his holdings significantly. In return, he sent 874.9 ETH, equivalent to $2.8 million, to Wintermute. This reallocation signals a strategic bet on ENA amid its price dip.

Hayes Bets on ENA’s Growth Potential

Hayes’ increased ENA allocation coincides with the token’s recent 15% price drop. Despite the short-term dip, his purchases reflect confidence in ENA’s future performance. By accumulating tokens during the decline, Hayes appears to be “catching the bottom” in anticipation of a rebound.

ENA Soared 14% as Arthur Hayes Bets Big on Token’s Recovery image 0

The token’s trading volume and technical indicators, including a bullish moving average crossover, suggest an imminent recovery. The $0.58 support level could provide a strong base for upward momentum, while breaking the $0.70 resistance may lead to further gains.

While Hayes remains heavily invested in Ethereum, with over 50% of his portfolio tied to ETH and EETH, his growing interest in ENA is noteworthy. With ENA’s trading metrics showing robust liquidity and a high market cap ratio of 25.27%, Hayes’ investment could capitalize on the token’s upward trajectory.

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