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    Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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BitMEX’s Arthur Hayes Invests $11M in Ethena (ENA) Amid 36% Jump

Story Highlights
  • Arthur Hayes invests $11.21M in Ethena (ENA), buying 16.79M tokens in two days.

  • Hayesโ€™ diverse crypto portfolio includes ETH, PENDLE, FLOWER, and now Ethena.

  • Ethena (ENA) surges 36%, as open interest climbs 23%, reaching $374M

Ethena (ENA) has surged nearly 36% in recent days, grabbing the spotlight in the crypto world. But itโ€™s not just the numbers that have everyone talkingโ€”itโ€™s whoโ€™s backing the token.

Arthur Hayes, the co-founder of BitMEX and a prominent figure in the crypto space, has made a bold move by pouring millions into ENA. With 16.79 million tokens worth $11.21 million now in his portfolio, Hayes is signaling major confidence in the market.

Letโ€™s dive into the details to uncover what might be fueling this calculated bet.

From Aethir to Ethena – Why?

According to blockchain analytics platform Lookonchain, Hayes has moved his investments from Aethir (ATH) to Ethena (ENA) over the past two days.

This major allocation of 16.79 million ENA tokens has captured the crypto communityโ€™s attention, sparking questions about his motives and ENAโ€™s future prospects.

Although Hayes hasnโ€™t publicly explained his reasons, speculation suggests he sees significant growth potential in ENA. This high-profile investment could boost the tokenโ€™s credibility and market appeal.

Hayesโ€™ Diverse Crypto Portfolio

Hayesโ€™ focus on Ethena doesnโ€™t mean heโ€™s narrowing his investment scope. His portfolio includes other cryptocurrencies like Ethereum (ETH), FLOWER, EETH, SUSDE, and PENDLE, reflecting his diverse approach to the crypto market.

Ethenaโ€™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.

Technical indicators suggest Ethenaโ€™s rally could continue. The Relative Strength Index (RSI) is nearing the 60 mark, indicating growing buying interest without signaling overbought conditions.

The spotlight is now firmly on Ethena. Hayes’ bet has certainly raised the stakes!

FAQs

Is Ethena a good investment?

Yes, Ethena might definitely be a good investment, if you are looking to invest for the long term.

What is Ethena?

Ethena is a synthetic dollar and internet-native yield platform built on Ethereum. At the core of Ethenaโ€™s ethos lies USDe, a synthetic dollar designed to promote stability and scalability within the DeFi ecosystem.ย 

How much is Ethena worth?

At the time of writing, the price of 1 ENA crypto was $0.7247.

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