Ethena Rebounds 8% to $0.21 Despite $2.7M Arthur Hayes Sale

Ethena ($ENA) rebounded nearly 8% in 24 hours to trade near $0.21 on Oct. 26, according to CryptoNews price data, despite sustained selling pressure linked to BitMEX co-founder Arthur Hayes. The top-40 cryptocurrency recorded roughly $420 million in daily trading volume while moving between $0.1887 and $0.2108 over the 24-hour period.

Arthur Hayes reduces token exposure

The price recovery follows disclosures by Arthur Hayes regarding a reduction in his cryptocurrency holdings. On Oct. 24, Hayes stated on X that he had closed his Maelstrom directional trading book to take profits on Ethereum, ENA, and Uniswap, citing macroeconomic and geopolitical uncertainties.

Blockchain tracking service Lookonchain subsequently reported a sale involving approximately 14 million ENA tokens valued at $2.73 million. That transaction followed earlier reported sales of $22.28 million in crypto assets linked to Hayes, which included a separate 14 million ENA position valued at $2.76 million.

Technical levels and market context

Despite gaining around 9% over seven days, ENA remains down roughly 22% over the past 30 days. Ethena’s share of crypto-related social media discussions hit a 30-day high of 0.41% during the rebound.

On the daily chart, ENA traded near its 20-day simple moving average of $0.2051. Key technical levels include Bollinger Band resistance at $0.2302 and lower support near $0.1801. The moving average convergence divergence (MACD) line stood at -0.0031 against a signal line of -0.0026, keeping momentum indicators bearish despite narrowing histogram spreads.

Key facts

• ENA gained nearly 8% in 24 hours to trade near $0.21 with $420 million in volume.
• Lookonchain tracked a recent 14 million ENA sale worth $2.73 million linked to Arthur Hayes.
• Ethena's market capitalization stands near $2.77 billion.
• ENA remains down approximately 22% over a 30-day window.