Ethereum

bullish

Arthur

Ethena

Gains

<ul class="wp-block-list">
 <li>The token surged 13.89%, closing at $0.6396, with a market cap up 10.68% to $1.82 billion.</li>
 <li>Hayes added 4.916M ENA to his portfolio, signaling a strategic bet on the token’s rebound.</li>
</ul>
ENA soared 14% today, reaching $0.6435 and outperforming many market peers. The token’s<a href="https://thenewscrypto.com/is-bitcoin-behind-microstrategys-96b-market-cap-surge/" target="_blank" rel="noopener noreferrer nofollow"> market cap </a>stands at $1.82 billion, reflecting a 10.68% increase in the past 24 hours.&nbsp;
Arthur Hayes, <a href="https://x.com/CryptoHayes" target="_blank" rel="noopener noreferrer nofollow">Co-Founder</a> 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.&nbsp;
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 <a href="https://thenewscrypto.com/celsius-creditors-blame-wintermute-for-assisting-wash-trading/" target="_blank" rel="noopener noreferrer nofollow">Wintermute</a> 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.
<h3 class="wp-block-heading" id="h-hayes-bets-on-ena-s-growth-potential">Hayes Bets on ENA’s Growth Potential</h3>
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.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://thenewscrypto.com/wp-content/uploads/2024/11/ENAUSDT_2024-11-27_16-30-32-1024x447.png" alt="" class="wp-image-115859" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/ENAUSDT_2024-11-27_16-30-32-1024x447.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/ENAUSDT_2024-11-27_16-30-32-300x131.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/ENAUSDT_2024-11-27_16-30-32-768x335.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/ENAUSDT_2024-11-27_16-30-32-1536x671.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/11/ENAUSDT_2024-11-27_16-30-32.png 1814w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
</figure>
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 <a href="https://x.com/ethereum" target="_blank" rel="noopener noreferrer nofollow">ETH</a> 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. Highlighted Crypto News Today <a href="https://thenewscrypto.com/investors-react-as-trumps-crypto-gains-surge-by-2m/" target="_blank" rel="noopener noreferrer nofollow">Investors React as Trump’s Crypto Gains Surge by $2M</a>

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

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