TLDR
- Arthur Hayes purchased 2.16 million ENA tokens worth $1.06 million following Ethena’s partnership with Anchorage Digital
- Hayes now holds 7.76 million ENA tokens valued at $3.73 million and expects the price to reach $1
- ENA price surged 8% to $0.50 with daily trading volumes exceeding $1 billion
- Ethena and Anchorage are developing a GENIUS Act-compliant stablecoin to expand USDtb in the US market
- USDtb stablecoin has a market cap of $1.4 billion with $1.1 billion held in BlackRock’s BUIDL tokenized fund
BitMEX co-founder Arthur Hayes has made a major investment in Ethena (ENA) tokens. The crypto investor purchased 2.16 million ENA tokens worth $1.06 million on Thursday.
The purchase came one day after Ethena announced a partnership with Anchorage Digital. The companies plan to introduce a stablecoin in America that complies with the recently passed GENIUS Act.
Hayes made his ENA purchases through multiple exchanges. According to Arkham Intelligence data, he bought tokens via Binance, Galaxy Digital, and Flowdesk.
The on-chain data shows Hayes now owns 7.76 million ENA tokens. His total holdings are valued at approximately $3.73 million.
Growing Confidence in Ethena
Hayes has been vocal about his support for Ethena in recent weeks. Earlier this month, he shared bullish predictions following the ENA listing on Upbit exchange.
The veteran investor expects ENA to reach $1 per token. This would represent a 100% increase from current price levels.
His latest purchase reinforces his confidence in the synthetic dollar protocol. The timing suggests he sees value in the Anchorage partnership announcement.
Market reaction to Hayes’ purchase has been positive. ENA price jumped 8.43% to $0.4997 following news of his investment.
Trading volumes have also surged dramatically. Daily volume increased by 47%, crossing the $1 billion mark.
Partnership Details and Market Impact
The Ethena-Anchorage partnership focuses on developing payment solutions. The companies will create a GENIUS-compliant stablecoin to expand USDtb adoption.
USDtb currently operates as a payment-focused stablecoin. It is backed primarily by traditional financial assets rather than cryptocurrencies.
The stablecoin’s market capitalization has reached $1.4 billion. Of this total, $1.1 billion is held in BlackRock’s BUIDL tokenized fund.
The remaining balance consists mainly of USDC holdings. Total reserves slightly exceed the circulating supply of USDtb tokens.
President Donald Trump signed the GENIUS Act into law last week. The legislation has prompted institutions to compete for stablecoin market share.
ENA has shown strong performance beyond the daily gains. The token is up 25% over the past week and 86% on the monthly chart.
The post Arthur Hayes Buys 2 Million Ethena Tokens Worth $1.06 Million After Anchorage Partnership appeared first on Blockonomi.
Source: https://blockonomi.com/arthur-hayes-buys-2-million-ethena-tokens-worth-1-06-million-after-anchorage-partnership/