TLDR
- Arthur Hayes purchased 2.16 million ENA tokens worth $1.06 million through multiple exchanges including Binance
- Hayes now holds 7.76 million ENA tokens valued at approximately $3.73 million total
- ENA price jumped 8% to $0.50 following Hayes’ purchase announcement
- Ethena partnered with Anchorage Digital to develop GENIUS Act-compliant stablecoin USDtb
- Hayes expects ENA to reach $1, representing potential 100% upside from current levels
BitMEX co-founder Arthur Hayes has purchased 2.16 million Ethena (ENA) tokens worth $1.06 million. The purchase occurred on Thursday following Ethena’s partnership announcement with digital asset custodian Anchorage Digital.
According to Arkham Intelligence data, Hayes executed the trades through Binance, Galaxy Digital, and Flowdesk. His total ENA holdings now stand at 7.76 million tokens valued at approximately $3.73 million.
ENA price responded positively to the news, climbing 8.43% to $0.4997. Daily trading volume increased by 47% to exceed $1 billion, indicating strong market interest.
The token has gained 25% over the past week and 86% monthly. Hayes previously shared bullish expectations for ENA, predicting the token could reach $1, which would represent a 100% increase from current levels.
Partnership Drives Strategic Development
Ethena’s collaboration with Anchorage Digital centers on developing USDtb, a payment-focused stablecoin. The partnership aims to create a GENIUS Act-compliant digital asset following President Trump’s recent signing of the legislation.
Ethena is set to become the first stablecoin developer whose product has a clear path to full compliance with the U.S. GENIUS Act
Through our partnership with @Anchorage, the only federally chartered crypto bank, USDtb will move onshore to become a U.S. federally regulated… pic.twitter.com/TVmsIGVZ5Y
— Ethena Labs (@ethena_labs) July 24, 2025
USDtb currently maintains a market capitalization exceeding $1.4 billion. The stablecoin is backed by traditional financial assets, with approximately $1.1 billion held in BlackRock’s BUIDL tokenized fund and the remainder primarily in USDC.
The stablecoin’s reserves slightly exceed its circulating supply, providing backing security. This structure positions USDtb as a payment-oriented alternative in the expanding stablecoin market.
Hayes’ timing appears strategic, with institutional players racing to capture market share in the stablecoin sector. The GENIUS Act’s passage has created regulatory clarity for compliant stablecoin operations.
Market Response and Trading Activity
ENA’s price movement reflects broader market confidence in the project’s direction. The 8% daily gain occurred alongside increased trading volumes, suggesting sustained investor interest rather than temporary speculation.
Hayes previously expressed optimism about ENA following its Upbit exchange listing earlier this month. His continued accumulation demonstrates conviction in the synthetic dollar protocol’s long-term prospects.
The veteran crypto investor’s purchase pattern shows consistent support for Ethena’s development. His total investment represents substantial exposure to the project’s success.
ENA price predictions suggest potential upside to $0.60 over the coming month. Current technical indicators support continued bullish momentum based on recent trading patterns.
Hayes executed his latest ENA purchase through multiple trading venues, indicating planned accumulation rather than opportunistic buying. The $1.06 million investment represents his largest single ENA acquisition to date.
