ENA is trading near $0.81, up 6% in the last 24 hours, as Arthur Hayes makes another high-profile buy.
Ethena ENA $0.78 24h volatility: 1.4% Market cap: $5.20 B Vol. 24h: $1.38 B has seen renewed interest from traders after BitMEX co-founder Arthur Hayes made a fresh investment.
At the time of writing, the cryptocurrency is trading around $0.811, recording 6% daily gains.
Two weeks ago, Hayes sold 7.76 million ENA worth $4.62 million at roughly $0.595, locking in a $1.65 million profit.
However, he has now purchased 2.14 million ENA for $1.75 million at a higher price of $0.816.
Two weeks ago, Arthur Hayes(@CryptoHayes) sold 7.76M $ENA ($4.62M) at ~$0.595 to lock in a $1.65M profit.
Recently, he bought back 2.14M $ENA($1.75M) at a higher price of $0.816.https://t.co/1HymJRPhcj pic.twitter.com/COZNMeBpvF
— Lookonchain (@lookonchain) August 13, 2025
This latest buy move suggests Hayes’ apparent confidence in ENA price prospects despite its recent rally. ENA, now the 29th largest cryptocurrency by market capitalization, has seen a 15% uptick in its 24-trading volume, crossing $1.52 billion.
On Wednesday, crypto analyst Ali Martinez revealed that whales have purchased 45 million ENA in the last seven days. This surge in accumulation comes as Ethena becomes a top crypto to buy in August, gaining over 44% increase in the past week.
45 million Ethena $ENA purchased by whales in the past week! pic.twitter.com/FMjUWTtznM
— Ali (@ali_charts) August 12, 2025
ENA Price Outlook
Popular crypto trader CW noted on X that the next major sell wall for ENA is around $1.15. This implies that traders could see a potential 42% price surge from current levels if bullish momentum continues.
The next sell wall for $ENA exist at $1.15 pic.twitter.com/Cx6mvEA3wv
— CW (@CW8900) August 13, 2025
Market experts are viewing Hayes’ buyback as a possible catalyst for further gains, particularly with increasing whale interest. On the daily ENA price chart, the RSI is indicating overbought conditions.
This often signals a potential pullback, but bullish momentum can keep prices high for extended periods. A break above $0.825 could open the door toward $0.90, followed by the $1.15 resistance.
ENA price chart with RSI and Bollinger Bands | Source: Trading View
ENA is trading near the upper Bollinger Band at $0.825, suggesting a potential breakout if momentum sustains. The middle band (20-day SMA) near $0.65 serves as a key support zone.
MACD is in positive territory, with the blue line above the signal line. The histogram is printing green, further confirming ENA bullish sentiment.
ENA price chart with MACD | Source: Trading View