Arthur Hayes sold ENA 98% below his profit target

BitMEX co-founder Arthur Hayes has promoted Ethena (ENA) for years — including repeated $10 price predictions since early 2024 —yet he waited until below $0.20 per ENA to finally admit to selling. On Saturday, he posted his total exit from his investment fund, Maelstrom’s so-called directional book. His sale post 98% below his profit target certainly makes a review of his calls comically worthwhile. Just four weeks ago, for example, Hayes proclaimed that ENA was going to at least $1. Even that would be a good outcome at this point, but unfortunately, $1 is nowhere close to the early price levels that Hayes espoused. Around the time his doomed promotions began, Hayes wrote , “$ENA = $10” on April 2, 2024.

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