Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX, has made significant investments in Ethena tokens, totaling $1.5 million within a 24-hour period. This information is based on an analytical report by cryptocurrency analyst Yu Jin, utilizing on-chain data.
Hayes' Investment in Ethena
According to Yu Jin, Arthur Hayes executed the purchase of Ethena tokens across several platforms. His trades include buying 2.1 million ENA for 755,000 USDC on Binance, purchasing 700,000 ENA for 248,000 USDC on Wintermute, and acquiring 1.4 million ENA for 502,000 USDC on Galaxy Digital.
Bullish Predictions for Ethereum
Hayes is known for sharing his market views, including bullish forecasts for Ethereum. In a post on social media platform X, he indicated that Ethereum could reach $10,000, which is approximately four times its current price. He also mentioned at the Bitcoin 2025 Conference that Ethereum might reach the $4,000-$5,000 range this year, suggesting a capital shift from Bitcoin to altcoins.
Market Trends in Cryptocurrency
Hayes noted that the current market dynamics resemble the 2021 cycle, when we saw substantial growth in altcoins. This could indicate the onset of a new rally as investments shift towards Ethereum and other altcoins.
Arthur Hayes' investments in Ethena highlight his confidence in the cryptocurrency market, particularly regarding Ethereum. The parallels to previous market cycles help to understand current trends and potential growth prospects. It is important to note that such investments should not be construed as financial advice.
