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Crypto

Hayes Snaps Up 25M ENA Tokens Ahead of Price Target

Guavy AI Editorial Team
Instruments
ENA
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Arthur Hayes has made a significant investment in Ethena's native token ENA, purchasing 25.33 million tokens for $5.53 million at an average price of $0.09.

This move gives the ENA price prediction a visible on-chain reference point, with Hayes' target of $0.50 drawing attention to the asset's potential upside.

Ethena has approved a proposal directing 95% of protocol net revenue towards ENA buybacks and token-holder redistribution, linking revenue with token demand and providing an additional boost to the ENA price prediction.

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