BitMEX’s Arthur Hayes Buys 2.16M ENA Tokens as Price Eyes New Highs

• Arthur Hayes purchased 2.16 million Ethena (ENA) coins worth nearly $1 million.
• ENA price was among the top gainers in the last 24 hours amid heavy crypto liquidations.
• Ethena partnered with Anchorage to develop a product with a clear path to compliance.

Arthur Hayes, co-founder of BitMEX cryptocurrency exchange, has been on a buying spree for Ethena (ENA) tokens from various cryptocurrency exchanges in recent times. According to on-chain data analysis, Hayes purchased 2.16 million ENA tokens, worth around $1 million. Consequently, Hayes increased his ENA token holdings to 7.76 million, which are worth about $3.73 million.

The rising demand for Ethena has coincided with the exponential growth in its Open Interest (OI). According to aggregate market data from Coinglass, Ethena’s OI surged from around $340 million at the beginning of July to above $1 billion, thus signaling high demand from speculative traders.

Ethena Price Eyes All-Time High Next 

Following the palpable demand for Ethena through the spot and futures markets, the ENA price has gained bullish sentiment. During the past 24 hours, the ENA price surged 20% to hover abou…

The post BitMEX’s Arthur Hayes Buys 2.16M ENA Tokens as Price Eyes New Highs appeared first on Coin Edition.