Ethereum News Today: Arthur Hayes invests $1.06M in Ethena as ENA surges 20% post-purchase

Arthur Hayes, co-founder of BitMEX, has purchased 2.16 million Ethena (ENA) tokens for approximately $1.06 million, further solidifying his position in the cryptocurrency market. The transaction, executed across platforms including Binance, Galaxy Digital, and Flowdesk, marks Hayes’ third major investment in ENA, increasing his total holdings to 7.76 million tokens valued at around $3.73 million [1][2]. This acquisition coincides with a period of significant price appreciation for ENA, which surged 20% in the 24 hours following the purchase, reaching $0.59 on July 26 [1]. The altcoin has seen a 125% rally over the past month, with a fully diluted valuation of $8.77 billion and an average daily trading volume of $2.17 billion [1].

Ethena’s rising prominence is reflected in its Open Interest (OI), which has soared from $340 million at the start of July to over $1 billion, indicating heightened speculative activity [1]. On-chain metrics further reinforce the bullish trend: the ENA price rebounded from a critical support level around $0.435, while its 2025 Relative Strength Index (RSI) crossed above 70, signaling strong momentum. The Moving Average Convergence Divergence (MACD) indicator has also surged above its signal line and the zero level, supported by expanding bullish histograms [1]. On a four-hour chart, ENA is approaching a pivotal decision point within a symmetrical rising trend channel, with potential for a parabolic rally beyond $1 or a retrace to the channel’s lower boundary [1].

Ethena’s fundamentals have also strengthened, driven by strategic partnerships and regulatory clarity. The project recently announced a collaboration with Anchorage Digital to develop USDtb, a U.S. federally regulated stablecoin under the GENIUS Act framework. This initiative, enabled by the act signed into law by President Trump, provides a clear compliance pathway for stablecoin projects and has attracted institutional interest, including support from BlackRock’s BUIDL tokenized fund [1]. Nathan McCauley, CEO of Anchorage Digital, emphasized the significance of this development, stating it enhances transparency and confidence in Ethena’s ecosystem [1]. Additionally, StablecoinX’s $360 million funding raise through a SPAC merger has bolstered Ethena’s infrastructure, further aligning it with institutional-grade financial standards [1].

Hayes’ investment strategy reflects a long-term bet on Ethereum-based governance tokens and the broader institutional adoption of digital assets. His track record as a contrarian investor—such as a $250,000 Bitcoin price prediction—positions ENA as a strategic play amid evolving regulatory landscapes [4]. However, analysts caution that sustained growth will depend on Ethena’s ability to execute its product roadmap, including the launch of USDtb and Ethereum ecosystem integrations, while navigating competitive pressures from alternatives like Solana-based tokens [3].

Sources:

[1] [Ethena’s ENA Price Surges as Arthur Hayes Buys 2.16 Million Tokens](https://coinmarketcap.com/community/articles/68834e9232b65702e7fcfee3/)

[2] [Arthur Hayes’ $12.5M Bet on Ethereum and ENA Tokens](https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-invests-12-5m-ethereum-ena-bullish-signal-ecosystem-growth-2507/)

[3] [Ethereum Ecosystem: Arthur Hayes’ Bold $12.5M Bet](https://bitcoinworld.co.in/ethereum-ecosystem-investment/)

[4] [Bitcoin’s $250K Prediction and Ethena’s Institutional Appeal](https://coingape.com/trending/crypto-crash-why-btc-sol-and-doge-are-falling-today/)