Arthur Hayes Buys 2.16M ENA Tokens as Price Surges 20% on Anchorage Partnership

Arthur Hayes, co-founder of the now-defunct cryptocurrency exchange BitMEX, has acquired 2.16 million Ethena (ENA) tokens in two separate transactions, totaling $1.06 million [2]. This purchase, made in early June 2025 and again in mid-July, has significantly increased Hayes’ ENA holdings to 7.76 million tokens, valued at approximately $3.73 million. The timing coincides with a 20% surge in ENA’s price over 24 hours, pushing the token to $0.59 on July 26 [3]. The price rally has positioned ENA as one of the top performers in the crypto market, with its fully diluted valuation reaching $8.77 billion and daily trading volume averaging $2.17 billion.

The investment aligns with Ethena’s strategic partnership with Anchorage Digital, a U.S.-chartered crypto bank, which aims to rebrand Ethena’s USDtb stablecoin under the GENIUS Act. This regulatory alignment is expected to attract U.S. institutions seeking compliance with evolving domestic frameworks. Nathan McCauley, CEO of Anchorage Digital, emphasized the partnership’s role in enhancing transparency and trust within the stablecoin ecosystem [1]. Additionally, Ethena’s Open Interest (OI) has surged from $340 million in early July to over $1 billion, reflecting heightened speculative demand [3].

Technical indicators further support bullish sentiment for ENA. The token’s 50-day and 100-day exponential moving averages (EMAs) have formed a golden cross, signaling potential upward momentum. A break above the $0.54 resistance level could push the price toward $0.65, a level last seen in January 2025 [1]. The Relative Strength Index (RSI) at 77 and a bullish MACD histogram indicate growing buying pressure, though analysts caution that sustained gains may test psychological barriers at $0.79 and $1.00. Conversely, failure to maintain a daily close above $0.54 could trigger a retest of the $0.46 support level [1].

Hayes’ investment history adds credibility to Ethena’s strategic direction. His track record in navigating regulatory challenges, such as BitMEX’s U.S. compliance overhauls, has historically signaled market validation for crypto projects. The purchase follows Ethena’s announcement of three new decentralized applications (dApps)—Ethereal, Strata, and Terminal—to diversify its ecosystem. Ethereal, a decentralized exchange with $740 million in Total Value Locked (TVL), and Strata, a yield-generation protocol with $18 million in pre-launch deposits, highlight the platform’s focus on institutional adoption [1].

Market activity has also surged, with ENA exchange outflows exceeding 1.07 billion tokens, reflecting increased on-chain engagement [4]. The token’s performance has outpaced many altcoins, solidifying its position as a top-10 gainer in the 24-hour period following Hayes’ purchase [2]. Ethena’s focus on institutional-grade tools, such as Terminal’s yield-bearing stablecoin trading, positions it to capitalize on demand for compliant crypto infrastructure in the U.S. market [1].

Source:

[1] [Ethena Eyes 20% Gains Amid Arthur Hayes 2 Million ENA Grab, Anchorage Digital Deal, New Apps] [https://www.fxstreet.com/cryptocurrencies/news/ethena-eyes-20-gains-amid-arthur-hayes-2-million-ena-grab-anchorage-digital-deal-new-apps-202507251137]

[2] [Arthur Hayes Invests $1.06M in 2.16M ENA as Price Surges 8.43%] [https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-invests-1-06m-2-16m-ena-price-surges-8-43-2507]

[3] [BitMEX’s Arthur Hayes Buys 2.16M ENA Tokens as Price Eyes New Highs] [https://coinedition.com/bitmexs-arthur-hayes-buys-2-16m-ena-tokens-as-price-eyes-new-highs]

[4] [Crypto Fear & Greed Index | Bitcoin Sentiment] [https://www.binance.com/en/square/fear-and-greed-index]