Arthur Hayes buys 22.64 million ENA in 5 days for $2 million

Arthur Hayes has increased his ENA purchases, adding 10.9 million tokens worth $985,000 and bringing his total buying over the past five days to 22.64 million ENA worth about $2 million, according to Lookonchain. The update expands on an earlier four-day accumulation that had reached 11.74 million ENA worth about $1.02 million, indicating continued short-term buying momentum in the token by the BitMEX founder. The activity has drawn attention to Ethena, a DeFi project known for synthetic dollar products, though analysts say whale buying alone does not determine price direction and broader market conditions, liquidity, demand and macroeconomic factors still matter.