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Ethena's ENA token rises 4% despite $2.7M sell-off by Arthur Hayes

Market News
26 Oct 2026, 17:10 WIB
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Neutral
Ethena's ENA token rises 4% despite $2.7M sell-off by Arthur Hayes

Ethena's ENA token gained about 4% on October 26, recovering to around $0.20-$0.21 despite Arthur Hayes, BitMEX co-founder, selling approximately $2.7 million worth of ENA tokens. Hayes has been reducing his crypto exposure due to macroeconomic and geopolitical uncertainties ahead of the Federal Reserve meeting. The selling pressure was absorbed by buyers amid high trading volume, and Ethena continues to expand its synthetic dollar USDe ecosystem. ENA's price outlook depends on maintaining support at $0.20, with potential to reach $0.23 or higher if market conditions improve, but risks remain if selling intensifies or Fed decisions cause volatility.

Ethena's ENA token shows resilience on Pluang, trading at Rp3.745 with a 6.33% gain as of Oct 26, 2026 21:22 WIB. Despite notable selling activity, the market cap stands at Rp49,73 trillion with a balanced order flow of 53% sell and 47% buy, reflecting active participation and interest.

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