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.
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Over the past four days alone, Hayes has withdrawn 16.856 million $ENA from Binance at an average price of $1.10, totaling $18.55 million.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%).
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.