Prominent crypto figure Arthur Hayes has been actively maneuvering his $ENA holdings, showcasing a bullish stance on the token.
Just 45 minutes ago, Hayes unstaked 9 million $ENA and deposited 7 million $ENA (valued at $8.44 million) into Binance. Interestingly, this move comes shortly after he expressed public support for Ethena Labs earlier today.
Previously, between November 26 and 28, Hayes withdrew 16.79 million $ENA from Binance at an average price of $0.666, amounting to $11.19 million.
Despite the recent deposit, Hayes still retains significant holdings, with 9.96 million $ENA ($11.7 million) in his portfolio. Of this, 7.94 million $ENA remains staked, and his total estimated profit stands at $8.71 million, reflecting a 78% return.
Arthur Hayes (@CryptoHayes) unstaked 9M $ENA and deposited 7M $ENA ($8.44M) to #Binance 45 minutes ago, despite showing support for @ethena_labs earlier today!
He previously withdrew 16.79M $ENA at ~$0.666 ($11.19M) from Binance between Nov 26 and 28, 2024 (tweet 👇).
He… https://t.co/XLxUd4NW1l pic.twitter.com/Ik8JBC25To
— Spot On Chain (@spotonchain) December 21, 2024
Adding to his activity, Hayes made another notable move just 30 minutes ago, withdrawing 3.206 million $ENA ($3.827 million) from Binance as the token’s price recovered to its pre-crash levels.
Over the past four days alone, Hayes has withdrawn 16.856 million $ENA from Binance at an average price of $1.10, totaling $18.55 million. His strategic timing during the price recovery has already netted him a profit of $1.18 million (+6.34%).
This whale is super bullish on $ENA!
30 minutes ago, the whale withdrew another 3.206M $ENA ($3.827M) from #Binance as the price recovered to the pre-crash level.
In just the past 4 days, the whale has withdrawn 16.856M $ENA from Binance at an average price of $1.10 ($18.55M),… https://t.co/3gt0WQARnn pic.twitter.com/gdBYTgU0TB
— Spot On Chain (@spotonchain) December 21, 2024
These transactions highlight Hayes’s confidence in $ENA’s long-term potential and his calculated approach to capitalizing on market fluctuations. Despite recent market turbulence, his continued accumulation and staking activity demonstrate his bullish outlook on the token and its ecosystem. As $ENA’s price stabilizes, Hayes’s actions underscore the growing appeal of Ethena Labs and its native token among high-profile investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.