Arthur Hayes, co-founder of BitMEX, acquired 6 million Ethena (ENA) tokens for $525,000, according to on-chain data tracked by Arkham and Lookonchain. The purchase averaged $0.09 per token.
Earlier this week, on-chain data showed Hayes bought 3.05 million ENA for $248,000, bringing his combined ENA accumulation to 9.05 million tokens.
The ENA buys followed a full exit from Synapse (SYN). Hayes sold 6.16 million SYN tokens for $658,000 before his first ENA purchase.
On-chain analysis shows Hayes has been accumulating across several DeFi tokens this week, including Pendle (PENDLE) and EtherFi (ETHFI) alongside ENA.
Ethena's ENA governs the protocol behind USDe, a synthetic dollar that generates yield through delta-neutral derivatives positions. Synapse operates as a cross-chain bridge, with SYN serving governance and liquidity incentive functions.
Hayes has also been accumulating ETH. He purchased an additional $6.39 million worth of ETH hours before ether dropped to $1,872, extending a prior $13.87 million buying streak. Ether currently trades at $1,841, down 1.8 percent over the past 24 hours. Bitcoin trades at $62,521, down 1.4 percent over the same period. The Crypto Fear & Greed Index sits at 28.
