BitMEX co-founder Arthur Hayes is increasing his holdings of 2.16 million Ethena (ENA) tokens with a $1.06 million investment, further bolstering his cryptocurrency assets. This move comes after the announcement on Thursday of a partnership with Anchorage.
Arthur Hayes accumulated $1 million worth of Ethena (ENA) in his latest purchase.
On Thursday, cryptocurrency investor Arthur Hayes purchased 2.16 million ENA tokens, worth approximately $1.06 million. Notably, this purchase occurred the day after Ethena and Anchorage Digital reached a collaboration to launch its stablecoin in the U.S. under the recently passed GENIUS Act.
According to data from Arkham Intelligence, Arthur Hayes purchased ENA through Binance, Galaxy Digital, and Flowdesk. Additionally, on-chain data shows that Hayes currently holds a total of 7.76 million ENA, worth approximately $3.73 million. This move highlights his continued support for the synthetic dollar protocol.
Earlier this month, after ENA was listed on Upbit, Arthur Hayes shared his bullish view on Ethena. This seasoned investor expects the altcoin to break through $1 and rise by 100% in the future.
As of the time of writing, ENA's price has risen by 8.43% to $0.4997. Moreover, its daily trading volume surged by 47%, surpassing $1 billion, indicating heightened trader sentiment. Over the past week, ENA's price has increased by 25%, with an 86% rise on the monthly chart. Our ENA price forecast suggests that the price will rise to $0.60 in the next month.
Why is Arthur buying ENA tokens?
Following a recent collaboration, Ethena and Anchorage Digital will jointly create a stablecoin that complies with the GENIUS standard and actively promote the issuance of its native stablecoin USDtb. Currently, USDtb is a payment-oriented stablecoin primarily backed by traditional financial assets.
Following President Donald Trump's signing of the GENIUS Act last week, major institutions are competing to capture the stablecoin market.
Currently, its market capitalization exceeds $1.4 billion, with approximately $1.1 billion held by BlackRock's BUIDL tokenization fund, while the rest is primarily in USDC. The total reserve value of USDtb is slightly higher than its circulating supply.
