ENA Defies Selling Pressure as Arthur Hayes Offloads 14M Tokens

ENA rebounded 8.8% despite Arthur Hayes selling 14 million tokens. Strong support around $0.19-$0.20 remains critical for bulls. A $57 million token unlock could increase short-term volatility. Ethena's ENA faced a major test during the past week. Many traders expected heavy selling after Arthur Hayes sold 14 million ENA tokens. Instead, the market responded with surprising resilience. ENA rebounded nearly 9% after the transaction, showing that buyers remain active despite increased uncertainty. With a large token unlock approaching and several network developments underway, investors are now watching whether ENA can maintain support and continue recovering.

Source: CryptoNewsLand