NewsletterArthur Hayes Buys the Dip, Adds 2 Million Ethena Tokens As ENA Price Shoots 8%
Highlights
- Arthur Hayes Ethena purchases triggers 8% upside in ENA price to $0.50.
- Hayes now holds nearly 7.7 million ENA coins and expects it to rally to $1.
- Ethena and Anchorage joins hands to grow USDtb, a payment-focused stablecoin.
BitMEX co-founder Arthur Hayes is loading up his crypto bags by accumulating 2.16 million Ethena (ENA) coins for an investment of $1.06 million. This move comes following the announcement of the Anchorage partnership on Thursday. The ENA price is up by 8% today, with daily trading volumes soaring past $1 billion.
Arthur Hayes Accumulates $1 Million of Ethena (ENA) In Latest Purchase
On Thursday, crypto investor Arthur Hayes purchased 2.16 million ENA tokens, worth approximately $1.06 million. Interestingly, this purchase comes just a day after Ethena entered into a partnership with Anchorage Digital to introduce its stablecoin in America, compliant with the recently passed GENIUS Act.
As per the data from Arkham Intelligence, Arthur Hayes made the ENA purchases through Binance, Galaxy Digital, and Flowdesk. Furthermore, the on-chain data reveals that Hayes now holds a total of 7.76 million ENA, valued at around $3.73 million. The move underscores his continued support for the synthetic dollar protocol.
Earlier this month, Arthur Hayes shared his bullish take on Ethena following the ENA Upbit listing. The veteran investor expects the altcoin to rally past $1, which is another 100% upside from here.
As of press time, ENA price is trading 8.43% up at $0.4997. Furthermore, its daily trading volume is up by a massive 47%, crossing $1 billion, suggesting bullsih trader sentiment. Over the past week, ENA price is already up by 25%, and 86% on the monthly chart. Our ENA price prediction suggests a rally to $0.60 over the next month.
Why Is Arthur Buying ENA Token
Following their recent partnership, Ethena and Anchorage Digital will build a GENIUS-compliant stablecoin, with a push for its native USDtb stablecoin. As of now, USDtb operates as a payment-oriented stablecoin backed predominantly by traditional financial assets.
With President Donald Trump signing the GENIUS Act into law last week, institutions are racing to grab a piece of the stablecoin market
Its market capitalization currently exceeds $1.4 billion. Of this, roughly $1.1 billion is held in BlackRock’s BUIDL tokenized fund, with the remainder primarily in USDC. The total value of USDtb’s reserves slightly surpasses its circulating supply.
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