Arthur Hayes Buys 25.33M ENA as Ethena Approves Buybacks
Ethena (ENA)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Arthur Hayes purchased 25.33 million ENA for $5.53 million at an average price of $0.09. Ethena has approved a fee switch directing 95% of protocol net revenue toward ENA buybacks and redistribution to token holders. The outlet notes that ENA price prediction centers on Hayes’ $0.50 target following this acquisition.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 20 September 2026. Not the outlet's figures.
ENA is trading at $0.2043 with a 24-hour spot volume of $98,324,594. The buy ratio stands at 50.8% over the last day, but drops to 45.1% in the last hour and 44.0% over the last four hours. This decline in the buy ratio indicates that buying pressure is fading in the short term compared to the daily average. Volume Delta is positive at +$1,557,740 over 24 hours, meaning total buy volume exceeded sell volume, but it turns negative at -$170,799 for the hour, showing immediate selling dominance. CVD closed at -$417,827, reflecting that net selling pressure outweighed buying pressure by that amount at the close.
The latest daily buy ratio of 50.0% sits at the 67th percentile of the last 323 days, against a median of 49.0% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for ENA, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.7%, making the current 24-hour ratio of 50.8% an increase of 2.1 points. Volume is 3.24x the average, indicating an unusual level of activity compared to a typical day. Despite the high volume, net buying was limited to just 1 of 7 days, with a total Volume Delta of -$3,790,020. The price rose 43.5% over eight days, but the negative weekly delta suggests sustained selling pressure despite the price increase.