Ethena Jumps 20% on Hayes' 2.16M ENA Purchase and Anchorage Digital Deal

Ethena (ENA) surged over 20% on Friday as it rebounded from a critical support level, extending its bullish momentum. The rally coincided with Arthur Hayes, former CEO of BitMEX, acquiring 2.16 million ENA tokens—valued at over $1 million—shortly after Ethena announced a partnership with Anchorage Digital, a federally chartered crypto bank. The collaboration aims to reposition Ethena’s offshore stablecoin, USDtb, as the first GENIUS Act-compliant stablecoin in the U.S. [1]. This regulatory alignment, facilitated by Anchorage, is expected to enhance Ethena’s appeal to U.S. financial institutions seeking compliance with domestic frameworks [1].

The partnership and token purchase by Hayes have coincided with Ethena’s strategic expansion. The protocol plans to launch three new decentralized applications (dApps)—Ethereal, Strata, and Terminal—to diversify its ecosystem. Ethereal, a decentralized exchange (DEX) with $740 million in Total Value Locked (TVL), is designed to boost trading activity. Strata, a yield-generation protocol, has already secured $18 million in pre-launch deposits, while Terminal targets institutional-grade trading of yield-bearing stablecoins like USDe [1].

Technical analysis suggests Ethena’s upward trajectory could continue. The token’s recent price action, including a golden cross between its 50-day and 100-day exponential moving averages (EMAs), has fueled optimism. A break above the $0.54 resistance level could push ENA toward $0.65, a target aligned with its January 28 closing price. Further gains, if sustained, may test $0.79 and eventually the $1.00 psychological barrier. The Relative Strength Index (RSI) at 77 and a bullish MACD histogram underscore growing buying pressure [1]. However, a failure to maintain a daily close above $0.54 could trigger a retest of the $0.46 support level [1].

Arthur Hayes’ acquisition of ENA tokens highlights confidence in Ethena’s regulatory and product roadmap. The timing of his purchase, following the Anchorage partnership announcement, underscores the perceived value in aligning with U.S. compliance standards. Analysts note that Hayes’ track record in navigating regulatory challenges for BitMEX may signal broader market validation for Ethena’s strategy [1].

Ethena’s ecosystem expansion through dApps and regulatory partnerships positions it to capitalize on growing demand for institutional-grade crypto solutions. The focus on GENIUS Act compliance and institutional tools like Terminal could attract a new cohort of users, particularly as stablecoin regulations evolve in the U.S. [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]