BitMEX Founder Arthur Hayes Cashes Out $4M in ENA Tokens, Still Holds About 8M

Arthur Hayes, founder of BitMEX, has recently been active in the ENA market, realizing significant profits from his holdings.

Arthur Hayes, the founder of BitMEX, has recently been making waves in the ENA market, booking substantial profits from his holdings in the token.

Two days ago, Hayes unstaked 9 million ENA tokens, splitting the assets across multiple transfers. Of these, 7 million ENA were sent to Binance, followed by a USDC withdrawal from the exchange 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. In late November, he quietly accumulated 16.96 million ENA 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 total profit of $3.96 million from his initial investment.

Haye Still Holds About 8 Million ENA Tokens

Interestingly, despite selling a large portion of his ENA holdings, Hayes still retains a significant stake in the token. A total of 7.94 million ENA tokens, currently valued at $8.36 million, remain staked. This indicates his ongoing interest and potential confidence in ENA’s future performance.

As always, it's worth noting that this is not trading or investment advice. Please carry out your own research before buying any cryptocurrency or investing in any services.

Investors in ENA and similar tokens should keep an eye on whale activity like this, 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.

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