Hayes Unloads $8.47M ENA on Binance Amid Market Speculation

Arthur Hayes, co-founder of BitMEX, has made headlines after transferring a significant amount of Ethena (ENA) to Binance. According to blockchain analysis firm Lookonchain, Hayes deposited over $8.47 million worth of ENA into the exchange, which is likely for sale purposes.

The transfer comes on the heels of an accumulation period where Hayes amassed 16.79 million ENA tokens between November 26th and November 28th, valued at $11.21 million at a price of $0.67 per coin.

Hayes' initial purchase allowed him to secure a substantial gain, as the current market value of his ENA holdings is over $19 million, resulting in a $7.7 million profit.