• Arthur Hayes has gathered 4.2 million ENA tokens value $1.5 million by means of Binance, Galaxy Digital and WinterMute.

• Ethena’s ENA tokens skyrocketed by 50% after it was listed on Upbit, South Korea’s largest crypto trade.
  
• Connor Rider mentioned Ecena might generate greater than $1 billion in income with an 81% share of the artificial greenback market.
  

Arthur Hayes bought $155 million value of ENA tokens shortly after the token was listed on Upbit, Korea’s largest crypto trade. The transaction occurred inside a 24-hour window, as revealed by X’s on-chain analyst @embercn. Hayes-linked wallets obtained a complete of 4.2 million ENAs by means of three main platforms.

First, Hayes moved 755,000 USDC to Vinance and retracted the two.1 million ENA. They then despatched 502,000 USDC to Galaxy Digital and obtained 1.4 million ENAs.

Lastly, he moved 248,000 USDC to WinterMute in trade for 700,000 ENA. All transactions got here amid a large rise in market curiosity after the addition of ENA to Upbit’s KRW, BTC and USDT buying and selling pairs.

The worth of the ENA can be $0.33 after itemizing

As quickly as Upbit listed ENA, the token jumped from $0.22 to $0.33, exhibiting a 50% improve. Hayes has authorised the event of the publish, writing,

“ENA is listed as Korea’s largest trade. It is time for lift-off!”

The record, coupled together with his accumulation, coincides together with his public perspective concerning the approached altcoinbull cycle led by Ethereum.

Connor Rider, Esena’s analysis director, claims that the protocol can generate revenues of over $1 billion, pointing to manage within the artificial greenback sector. Within the X publish, Rider mentioned,

“The artificial greenback/perfence funding fee is likely one of the few alternatives within the trade at this time, and may generate revenues of over $1 billion.”

He highlighted that whereas most crypto sectors face 1000’s of opponents chasing small margins, Ecena will lead with greater than 80% of market share and fewer than 30.

The chart revealed by Ethena exhibits that the protocol’s 81% market share within the artificial greenback house, far outperforming sectors reminiscent of RWA (22% BlackRock), liquid staking (52% Lido), and Lending (Aave at 45%). The artificial greenback sector already holds a dominant place regardless of solely 29 protocols. Rider concluded that “billions will stream to the winners,” highlighting Ecena’s lead in a distinct segment with a excessive money stream potential and low competitors.