Ethena (ENA) Gains as Arthur Hayes Accumulates DeFi Tokens

• BitMEX co-founder Arthur Hayes sold Ethereum to accumulate Ethena (ENA) and other DeFi tokens.
• Hayes purchased 10.94 million ENA tokens at $0.24 each, totaling $2.61 million.
• Ethena's token unlock schedule includes a January 2026 event with 45.4% supply already unlocked.
• Analysts suggest targeting post-unlock entry points below $0.24 for ENA.

Ethena (ENA) is attracting attention from major investors as BitMEX co-founder Arthur Hayes shifts his portfolio toward decentralized finance tokens. Hayes has sold Ethereum to build positions in ENA, Pendle, Ether.fi, and Lido DAO, signaling confidence in the DeFi sector. His recent ENA purchase represents part of a $7.77 million DeFi token accumulation spree. This whale activity coincides with improving crypto sentiment and key token unlock events.

Why Is Arthur Hayes Buying Ethena (ENA) Tokens?

Arthur Hayes sold $5.53 million worth of Ethereum to acquire Ethena (ENA) and other DeFi tokens. He specifically bought 10.94 million ENA tokens at an average price of $0.24, totaling $2.61 million according to reports. Hayes continued adding to his ENA position in recent weeks, reflecting a strategic portfolio shift toward DeFi assets as market analysis shows. His total altcoin holdings now approach $78.3 million, indicating significant conviction in the sector's growth potential according to financial reporting. This accumulation pattern suggests institutional players are positioning for DeFi's next growth phase.

How Do Token Unlocks Affect Ethena (ENA) in 2026?

Ethena's token unlock schedule presents both challenges and opportunities for investors in 2026. The protocol executed a major token unlock on January 2, 2026, with 45.4% of ENA's total supply already unlocked according to market analysis. Such events often create selling pressure as early investors gain liquidity. Market analysts recommend targeting entry points below $0.24 following unlock events to mitigate supply-driven volatility as analysts suggest. The broader market also faces token unlocks from projects like Moca Network on January 11, potentially influencing overall DeFi token liquidity according to market reports. Investors should monitor these scheduled events for strategic entry opportunities.