Ethena Rallies 4% as Arthur Hayes Sells $2.73M in ENA

TL;DR Ethena’s ENA gained about 4% in the initial snapshot despite Arthur Hayes selling another 14 million tokens worth roughly $2.73 million. Lookonchain estimated Hayes sold $28.8 million across several crypto assets over 24 hours, realizing around $6.65 million in profit, mainly from ETH and ENA. ENA’s rebound held near $0.20-$0.21, but the move remains a recovery attempt rather than a confirmed breakout, with $0.23 acting as nearby resistance for now. Ethena’s ENA token climbed 4% in the initial snapshot despite selling linked to BitMEX co-founder Arthur Hayes. Lookonchain reported that Hayes sold another 14 million ENA worth $2.73 million, while a later market reading placed ENA near $0.1995 .

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Economy.