BitMEX founder Arthur Hayes, one of the well-known names in the cryptocurrency world, made some interesting moves according to onchain data.
According to the data, Hayes unstaking around 9 million of his Ethena (ENA) tokens, which he had previously expressed strong support for, and moved them to cryptocurrency exchange Binance. The amount moved corresponds to $8.44 million.
Hayes had actually reiterated his support for Ethena earlier today before taking action.
Looking back, we know that Arthur Hayes unstaking $11.19 million worth of ENA tokens in a similar manner between November 26 and November 28.
Hayes currently holds 9.96 million ENA tokens worth $11.7 million, of which $7.94 million are staked, meaning they are locked in. Hayes has reportedly made $8.71 million, or 78%, in profit from his ENA tokens to date.
Similarly, recently Donald Trump's cryptocurrency project, World Liberty, also purchased a small amount of ENA tokens.
*This is not investment advice.