Recently, Arthur Hayes, co-founder of BitMEX, made a significant purchase of Ethena (ENA) tokens, leading to active discussions regarding its potential impact on the market.
Hayes' Purchase and Its Consequences
Arthur Hayes purchased 2.16 million ENA tokens for approximately $1 million. This transaction increased his overall ENA holdings to $7.76 million, positioning him as one of the most notable investors in ENA and exuding confidence in the market.
Surge in Open Interest in Derivatives Market
Open interest (OI) for ENA in the derivatives market surged by over $10 billion in the early days of July. This significant increase indicates rising demand from traders and intensified trading activity in the market.
Technical Indicators and Future Prospects of ENA
ENA shows a strong upward trend in the spot market, increasing by 20% in the last 24 hours and reaching approximately $0.59. Technical indicators, such as RSI and MACD, point towards increasing bullish sentiment, suggesting potential for further price rise.
In light of Arthur Hayes' recent actions and positive technical signals, ENA appears poised for significant movement within the market. Expectations of continued growth are fueled by a growing interest from traders and institutional investors.
