Ethena (ENA) maintains its uptrend despite well-known crypto investor Arthur Hayes selling a significant amount of ENA. After announcing his support for Ethena Labs, Hayes today unstake 9 million ENA and sent 7 million ENA to Binance.
Arthur Hayes’ Sales
Hayes made a profit of approximately $8.71 million by withdrawing 16.79 million ENA from the Binance exchange in November. Currently, Hayes holds 9.96 million ENA, of which 7.94 million are staked. Hayes, who achieved a 78% return thanks to his strategic transactions, continued to sell Ethena despite the increase in its price.
Ethena has performed relatively well in the market, rising 8.47% in the last 24 hours. Major cryptocurrencies Bitcoin $98,538.2 and Ethereum 
$3,480.1At a time when ENA was struggling, ENA’s value rose steadily. ENA has rebounded from a massive decline of 34.62% and is now trading at $1.08, ranking it at #43 with a market cap of approximately $3.17 billion.
Analyst Estimates and Future Projections
Crypto analyst and Chill Trader stated that ENA could rise by 85.34%. Chill Trader stated that he saw a bullish cup handle formation on the ENA/USDT chart and the support level was $0.94. If this level is maintained, ENA is expected to reach $2.15.
Chill Trader: “There is an 85% upside potential if ENA maintains the $0.94 support.”
Additionally, Ethena’s strategic partnerships with Donald Trump’s World Liberty Financial (WLFI) and investment giant BlackRock enhance ENA’s future potential. The partnership with WLFI enabled the sUSDe stablecoin to be added as collateral to the Aave-powered DeFi platform.
The collaboration with BlackRock focuses on risk management strategies, providing returns on treasury investments in challenging markets. These partnerships strengthen Ethena’s position in the market by increasing corporate interest.
Ethena’s growing collaborations and the influence of a Trump-backed administration have increased interest in ENA, indicating that the cryptocurrency will perform brilliantly in the near future.
Ethena gives hope to its investors with its resilience and strategic partnerships even in volatile market conditions. ENA’s strong fundamentals and supportive community offer steady growth potential in the crypto market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
