Arthur Hayes Buys 25.33M ENA as Ethena Approves 95% Revenue Buybacks

TLDR:

• ENA price prediction centers on Arthur Hayes’ $0.50 target after he bought 25.33 million ENA for $5.53 million at an average price of $0.09.
• Ethena approved a fee switch that directs 95% of protocol net revenue toward ENA buybacks and redistribution to token holders, linking revenue with token demand.
• ENA/USD faces resistance near $0.1976, while the MA-50 at $0.1826 and the MA-200 at $0.1038 provide separate technical reference levels.
• The latest trading session forecast places ENA/USD between $0.1766 and $0.2104, with a 62% upside probability and 38% downside risk.

The ENA price prediction has gained attention after Arthur Hayes called for ENA to reach $0.50. According to Lookonchain data, Hayes bought 25.33 million ENA for $5.53 million one month earlier. His average entry stood near $0.09, with an unrealized profit of $3.28 million, or 146%.

Ethena has approved a proposal directing 95% of protocol net revenue toward ENA buybacks and token-holder redistribution. Its total value locked reached $5.21 billion.

ENA Price Prediction Tracks the $0.50 Target and Buyback Demand

Hayes’ purchase gives the ENA price prediction a visible on-chain reference, but his target is a personal market view. The reported purchase occurred about one month before the post. Lookonchain identified the transaction size and average acquisition price in its update.

Lookonchain reported 25.33 million tokens, a $5.53 million position value and an average acquisition price near $0.09. The unrealized gain stood at $3.28 million. The 146% return reflects the performance figure cited in the update.

Hayes’ $0.50 call does not establish a formal Ethena forecast. It does, however, place a specific level beside the broader market discussion. Traders can compare that target with support, resistance and protocol developments.

Governance also adds a demand factor to the ENA price prediction. Ethena approved a fee switch that directs 95% of net revenue into ENA buybacks and redistribution. That structure ties protocol revenue to recurring token purchases.

Ethena’s TVL reached $5.21 billion. TVL measures assets users deposited in the protocol, but it does not guarantee token appreciation. The figure provides context for the scale of activity connected to the buyback policy.

Revenue-based purchases differ from discretionary market calls. The proposal creates a documented allocation rule, but it does not specify a fixed daily volume. ENA demand will therefore vary with protocol earnings and the execution schedule. Token redistribution also depends on governance implementation and the final mechanics that governance formally adopts.

Ethena’s $5.21 billion TVL figure covers assets users deposited in Ethena-related contracts. It does not show how much revenue the protocol generated during the period. A larger deposit base can provide scale, but it cannot establish the future value of ENA.

Traders still need to separate confirmed governance action from price speculation. These factors can change expected trading paths.

Any impact from buybacks depends on protocol revenue, implementation and market liquidity. The information does not state the size or timing of future purchases.

Ethena Buybacks Meet Mixed Momentum Near Key ENA Resistance

ENA/USD trades below MA20 at $0.2003, while MA50 at $0.1826 and MA200 at $0.1038 provide reference levels. Ichimoku Kijun resistance sits at $0.1976.

Momentum indicators do not point in one direction. MACD shows Strong Buy, while ADX indicates buying interest. RSI reads 52.848, a Buy signal, and Stoch RSI sits in oversold territory.

Source: TradingView

The recent trading session places ENA/USD between $0.1766 and $0.2104. It assigns a 62% probability to an upside move and 38% to downside risk. The base case calls for sideways consolidation inside the range.

A sustained move above $0.1976 would strengthen the upside case in the forecast. A break below $0.1766 would weaken it. The ENA price prediction therefore tracks both the $0.50 target and the immediate trading range.

Technical data do not currently confirm a move to $0.50. The data identify the levels traders monitor as ENA/USD responds to buybacks, market liquidity and broader crypto conditions. The ENA price prediction will change if the asset breaks the stated range.

The post Arthur Hayes Buys 25.33M ENA as Ethena Approves 95% Revenue Buybacks appeared first on Blockonomi.