Arthur Hayes Ramps Up ENA Holdings As Token Surges Over 21%
BitMEX founder Arthur Hayes has made headlines again, withdrawing 10.36 million ENA tokens worth $7.49 million from Binance.
Over the past two days, Hayes has accumulated a total of 16.79 million ENA from Binance, Bybit, and Wintermute Trading.
His average purchase price for the tokens is estimated at $0.666, translating to an investment of $11.19 million. With ENA’s recent price surge, Hayes now holds an unrealized profit of $1.14 million, reflecting a 10.2% gain.
More $ENA for Arthur Hayes (@CryptoHayes)!
An hour ago, he withdrew another 10.36M $ENA ($7.49M) from #Binance, bringing his 2-day total accumulation to 16.79M $ENA at an average price of $0.666.
His unrealized profit currently stands at $1.14M (+10.2%). Nice catch at the… https://t.co/1GezhLXr2I pic.twitter.com/2sA8OyI0L6
— Spot On Chain (@spotonchain) November 28, 2024
ENA’s price has been on an upward trajectory, soaring by 21.39% in the last 24 hours alone. The token’s rally coincides with positive developments around its ecosystem, including recognition from Token Terminal, which recently named Ethena’s USDe as the second fastest-growing stablecoin issuer based on seven-day supply growth.
Fastest growing stablecoin issuers based on 7d supply growth (%): @usualmoney @ethena_labs pic.twitter.com/W8lRjcpSro
— Token Terminal (@tokenterminal) November 23, 2024
USDe currently boasts a supply of approximately $4.1 billion, offering a 29% annual percentage yield (APY) this week. One of its standout features is its ability to aggregate funding rates across the entire market, rather than relying on a single venue. This approach minimizes concentration risk while delivering competitive returns for users.
The sUSDe distribution this week is 29% APY at ~$4.1b of USDe supplyhttps://t.co/GiGIdkvGv3 pic.twitter.com/q45NH2kvkZ
— Ethena Labs (@ethena_labs) November 28, 2024
As Hayes continues to build his position in ENA and market sentiment remains strong, all eyes are on the token’s next moves. The combination of influential backers, growing stablecoin adoption, and robust yields could provide further momentum, though market volatility remains a factor to watch.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: gorodenkoff/123RF // Image Effects by Colorcinch
The post Arthur Hayes Ramps Up ENA Holdings As Token Surges Over 21% appeared first on The Merkle News.