Hayes' ENA Bet: BitMEX Founder's Bullish Moves on Ethena Tokens

Arthur Hayes' recent ENA token purchases signal strong confidence in Ethena, with strategic partnerships and market dynamics fueling potential growth.

Arthur Hayes, the BitMEX co-founder, is making waves again, this time with Ethena (ENA) tokens. Hayes' moves indicate a strong belief in Ethena's potential, so let's dive into what's fueling this bullish sentiment.

Hayes' ENA Accumulation

Hayes has been on a buying spree, scooping up ENA tokens. On July 25, 2025, it was reported that Hayes added another $1 million worth of ENA to his crypto holdings. On-chain data reveals that Hayes purchased 2.16 million ENA tokens, valued at around $1.06 million, through Binance, Galaxy Digital, and Flowdesk. This boosted his total holdings to 7.76 million ENA tokens, worth approximately $3.73 million. Hayes' average buy-in for ENA stands at $0.386, and with ENA trading around $0.493, he's already seeing some nice unrealized profits.

Ethena's Growth and Partnerships

Ethena's growth is hard to ignore. The platform's flagship product, USDe, has attracted a massive $2 billion in just one week. This surge is partly due to the 10% APY offered by the synthetic dollar stablecoin, drawing crypto enthusiasts to DeFi strategies. Ethena Labs' strategic partnership with Anchorage Digital is also significant. This collaboration aims to develop USDtb, a payment-focused stablecoin compliant with the GENIUS Act, potentially making it a regulated payment stablecoin in the U.S.

Market Dynamics and Price Analysis

ENA's price has responded positively to these developments. The token saw an 8.43% increase following the Anchorage Digital partnership announcement. Technical analysis indicates a potential breakout from a bull flag formation, suggesting a possible 42% move toward the $0.70–$0.72 range. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators support continued bullish momentum.

Hayes' Broader Ethereum Focus

Hayes' ENA purchases are part of a larger strategy focused on Ethereum and its ecosystem. Since mid-July, he has invested over $12.5 million across ETH, ENA, AAVE, LDO, ETHFI, and even PEPE meme tokens. This broad investment strategy highlights his confidence in the Ethereum ecosystem's future.

Final Thoughts

Arthur Hayes' continued investment in ENA tokens underscores his belief in Ethena's potential. With strategic partnerships, increasing market interest, and positive technical indicators, ENA could be one to watch. Whether you're a seasoned crypto investor or just dipping your toes in, Hayes' moves offer some food for thought. Who knows, maybe ENA will be the next big thing? Keep an eye on it, and happy investing!