Arthur Hayes' ENA move is surprising: The rise continues!

Arthur Hayes has made a profit of $1.14 million by purchasing 16.79 million $ENA tokens in just two days.

BitMEX founder Arthur Hayes has helped the Ethena (ENA) price increase by more than 22 percent in the last 24 hours by accumulating ENA tokens intensively. This development took place when Hayes reshaped his portfolio and directed his Aethir (ATH) assets, which he suffered major losses, to Ethena.

At the time of writing, the ENA price is trading at $0.7502, up 22.50 percent, and its market value has reached $2.13 billion. In the last two days, Hayes has withdrawn a significant amount of Ethena from the Binance exchange, demonstrating his interest in the protocol.

According to blockchain tracking platform Spot On Chain, Hayes recently withdrew another 10.36 million Ethena. The total value of these purchases reached $7.49 million, bringing the two-day total purchase amount to 16.79 million.

Arthur Hayes’ average purchase price for ENA tokens is $0.66. This increase in the price of Ethena gave Hayes an unrealized profit of $1.14 million (about 14 percent).

Hayes lost $815,000 by selling his long-held Aethir (ATH) holdings on Nov. 26. However, Hayes, who saw a quick opportunity in ENA, not only regained these losses within two days, but also made additional profits.

Hayes, who has recently invested in Solana-based meme coins, made significant gains on Goatseus Maximus (GOAT) last month. Now, he is pointing to the FlowerAI (FLOWER) token as his new target.

According to Coinglass data, ENA’s open interest volume increased by 23 percent to $374 million. Meanwhile, total ENA liquidations increased to $1.29 million, with $335,000 of these liquidations coming from long positions and $956,000 from short positions. In addition, the total value locked on the Ethena blockchain (TVL) increased to $4.09 billion.