Arthur Hayes Buys $1.5M Worth of Ethena Tokens as ENA Price Rebounds

• Arthur Hayes accumulated 4.2 million ENA tokens worth $1.5 million through Binance, Galaxy Digital, and Wintermute.
• Ethena’s ENA token surged 50% after listing on Upbit, Korea’s largest crypto exchange.
• Conor Ryder said Ethena could generate over $1B in revenue, with 81% share of the synthetic dollar market.

Arthur Hayes purchased $1.505 million worth of Ethena (ENA) tokens shortly after the token was 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.

First, Hayes transferred 755,000 USDC to Binance and withdrew 2.1 million ENA. He then sent 502,000 USDC to Galaxy Digital, receiving 1.4 million ENA.

 Finally, he moved 248,000 USDC to Wintermute in exchange for 700,000 ENA. All transactions occurred amid a broader uptick in market interest following ENA’s addition to Upbit’s KRW, BTC, and USDT trading pairs.

ENA Price Surges to $0.33 Post-Listing

Soon after Upbit listed ENA, the to…

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