ENA Surges 50% on Arthur Hayes' Endorsement and FalconX Partnership

Ethena's ENA token surged over 50% in 24 hours to $0.134976 on August 21, 2026, breaking out of a months-long downtrend.

The catalyst behind this meteoric rise was Arthur Hayes' bullish endorsement, who called ENA a '5X bet' or even a '5X, 10X return' opportunity contingent on Bitcoin strengthening and crypto basis yields improving.

Hayes' endorsement matters because it frames ENA not just as a niche synthetic asset token but as a levered play on broader crypto market dynamics, which often moves sentiment and capital flows.