ENA Surges 18% Amid Arthur Hayes’s Buying Spree
- Arthur Hayes’s buying fuels ENA’s growth.
- ENA market cap hits $20.75 billion.
- Coinbase roadmap addition sparks interest.
In a rapid market move, ENA surged over 18%, boosting its market cap to $20.75 billion, driven by notable buys from Arthur Hayes, co-founder of BitMEX.
ENA’s rise emphasizes its market traction and investor interest, signaling potential DeFi momentum shifts as key figures like Hayes make significant moves.
Ethena Labs’ token ENA gained momentum after being included in Coinbase’s listing roadmap. Arthur Hayes, a significant figure in cryptocurrency, notably purchased more ENA amid the surge. “Surpassing a $2 billion market cap, Ethena is back in action as Arthur Hayes continues to buy more ENA tokens.” Source
The Coinbase announcement led to an immediate 8.6% price increase during early Asian hours. This reflects strong institutional and retail interest, evidenced by high trading volume. Additionally, 40 million ENA tokens (approximately $12 million) were unlocked.
The market demonstrated resilience despite the token unlock, indicating robust buyer support and positive investor sentiment. This response is contrary to typical post-unlock sell-offs seen in similar scenarios, marking a significant industry response.
ENA’s trajectory suggests potential continued growth in DeFi, driven by influential market players and aligned strategic actions. While current dynamics show stability, regulatory responses and further technological integration could potentially shape its future evolution.
