Noted crypto investor Arthur Hayes has acquired $1.5 million in Ethena (ENA) tokens shortly after their listing on Upbit, leading to a significant increase in token value.
Arthur Hayes' Purchase of Ethena Tokens
Arthur Hayes purchased $1.505 million worth of Ethena tokens shortly after they were listed on Upbit, South Korea’s largest crypto exchange. The transactions occurred within a 24-hour window, as revealed by on-chain analyst @EmberCN on X. The wallet linked to Hayes received a total of 4.2 million ENA through three major platforms.
ENA Token Price Surge
Following the listing on Upbit, the price of ENA surged by 50%, reaching $0.33. This spike occurred amid increased market interest after the token's addition to Upbit's KRW, BTC, and USDT trading pairs.
Expected Revenue from Ethena
Conor Ryder stated that Ethena could generate over $1 billion in revenue, holding an 81% market share within the synthetic dollar market, highlighting the project's substantial potential.
Ethena tokens are showing significant growth in investor interest, as evidenced by Arthur Hayes' recent actions and substantial investments in the project.
