BitMEX founder Arthur Hayes has made headlines again, withdrawing 10.36 million ENA tokens worth $7.49 million from Binance.

Over the past two days, Hayes has accumulated a total of 16.79 million ENA from Binance, Bybit, and Wintermute Trading.

His average purchase price for the tokens is estimated at $0.666, translating to an investment of $11.19 million. With ENA’s recent price surge, Hayes now holds an unrealized profit of $1.14 million, reflecting a 10.2% gain.

ENA’s price has been on an upward trajectory, soaring by 21.39% in the last 24 hours alone. The token’s rally coincides with positive developments around its ecosystem, including recognition from Token Terminal, which recently named Ethena’s USDe as the second fastest-growing stablecoin issuer based on seven-day supply growth.

USDe currently boasts a supply of approximately $4.1 billion, offering a 29% annual percentage yield (APY) this week. One of its standout features is its ability to aggregate funding rates across the entire market, rather than relying on a single venue. This approach minimizes concentration risk while delivering competitive returns for users.

As Hayes continues to build his position in ENA and market sentiment remains strong, all eyes are on the token’s next moves. The combination of influential backers, growing stablecoin adoption, and robust yields could provide further momentum, though market volatility remains a factor to watch.

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

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