Arthur Hayes Buys 2M Ethena Tokens Sparks 8% Price Surge Holdings Hit 7.7M

Generated by AI AgentCoin World
Friday, Jul 25, 2025 7:53 am ET1min read
SHIB
--
USDC
--
Aime RobotAime Summary

- Arthur Hayes buys 2M Ethena (ENA) tokens in $1.06M transaction, boosting ENA price 8% to $0.50.

- Now holding 7.7M ENA tokens, Hayes reaffirms $1 price target amid broader crypto market volatility.

- Analysts highlight how influential purchases create self-fulfilling price dynamics in stablecoin/yield token markets.

- Ethena's StablecoinX launch and $6B USDe supply reinforce its DeFi positioning despite ENA's $0.50 valuation gap.

- Transaction sparks debate on individual investor influence versus fundamental value in crypto markets.

Arthur Hayes, co-founder of BitMEX and a well-known figure in the cryptocurrency industry, has significantly increased his stake in Ethena’s native token,

ENA
, by purchasing 2 million tokens in a single transaction on July 19, 2025. The purchase, which injected $1.06 million into the market, triggered an 8% price surge, pushing ENA to $0.50 within hours. Hayes now holds a total of 7.7 million ENA tokens, signaling his continued confidence in the asset’s long-term potential. He has previously expressed optimism about the token reaching $1 in value, a target he reiterated following the transaction [1].

The acquisition occurred during a period of broader market volatility, with other tokens like PUMP and

SHIB
experiencing declines. ENA’s resilience, however, has drawn attention from both retail and institutional investors. Analysts note that large-scale purchases by influential figures often create self-fulfilling dynamics, as traders interpret such moves as signals of undervaluation or long-term conviction. This effect is particularly pronounced in stablecoin and yield-generating token markets, where Ethena operates. The purchase has also reignited discussions about the role of individual investors in shaping token valuations [4].

Hayes’ strategy aligns with Ethena’s recent product developments, including the launch of StablecoinX in July 2025, which aims to enhance capital efficiency for decentralized finance (DeFi) participants. The project’s stablecoin,

USDe
, has surpassed $6 billion in total supply, reinforcing its position in the market. Hayes has consistently advocated for Ethena’s ability to merge traditional financial tools with crypto-native innovation, a thesis supported by the growing adoption of its protocols [5].

Despite the 8% rally, ENA’s $0.50 price remains below Hayes’ $1 target. Critics emphasize the need for the token to demonstrate stronger fundamentals to sustain speculative interest, while supporters highlight institutional partnerships and technological advancements as key growth drivers. The transaction underscores the interplay between individual investor behavior and market dynamics in crypto, where high-profile actions often amplify short-term momentum. For Ethena, the move represents both validation of its strategic direction and a challenge to deliver on its utility-based value proposition [1].

Source:

[1] [Arthur Hayes Buys the Dip, Adds 2 Million Ethena Tokens](https://coingape.com/arthur-hayes-buys-the-dip-adds-2-million-ethena-tokens-as-ena-price-shoots-8/)

[4] [OnChain Battles Price Today - Live OCB to USD Chart](https://www.fxempire.com/crypto/onchain-battles)

[5] [Leap Digital Investments](https://leapdigitalinvestments.com.au/)