ENA Investment Update: Arthur Hayes Realizes $3.96M Profit While Maintaining $8.36M Stake

Arthur Hayes Cashes In On ENA: $3.96M Profit Realized, $8.36M Still Staked

Arthur Hayes, the founder of BitMEX, has made a significant profit from his investment in ENA, cashing out a portion of his holdings while still maintaining a substantial stake in the token.

According to recent data, Hayes unstaked 9 million ENA tokens and distributed them across multiple transfers. Of these, 7 million ENA were transferred to Binance, followed by a USDC withdrawal from Binance yesterday morning. The remaining 2 million ENA, valued at $2.06 million, were transferred to his wallet (0x6cd…e21) and later moved to Bybit just five hours ago.

Hayes’ recent actions demonstrate a profitable strategy with ENA, as he had accumulated 16.96 million ENA tokens in late November at an average price of $0.66 per token. Over the past two days, he sold the 9 million ENA transferred to exchanges at an average price of $1.10, securing a profit of $3.96 million.

Despite selling a portion of his holdings, Hayes still retains approximately 7.94 million ENA tokens, currently valued at $8.36 million. This indicates that he remains optimistic about the token’s future performance and potential growth.

Hayes’ actions offer valuable insight into the strategies employed by major players in the crypto market. By taking profits from a significant portion of his holdings while maintaining a substantial stake, Hayes is demonstrating a balanced approach to risk management and opportunity identification.

Investors in ENA and similar tokens should take note of this whale activity, as it often precedes significant market movements. For now, all eyes are on Hayes’ next moves and ENA’s price trajectory in the coming weeks.

Disclosure: This article is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Source: nulltx.com