Arthur Hayes is Up 146% on This Altcoin: Now He Expects More!

Arthur Hayes has reached a 146% unrealized profit on the Ethena (ENA) tokens he purchased a month ago, sharing that he expects the price to rise to $0.50.

According to a September 20 post by the on-chain analysis platform Lookonchain, Hayes purchased 25.33 million ENA at an average price of approximately $0.09 about a month ago. The platform calculated the value of this position at $5.53 million at the time of the post, with an unrealized profit of $3.28 million.

The $5.53 million figure here does not represent the amount spent on the purchase, but rather the total value of the tokens held at the time of the report. Furthermore, unrealized profit does not mean a finalized gain achieved by selling the tokens.

The $0.50 target Hayes set for ENA in his social media post points to a level more than double the price of approximately $0.21 included in the post. Thus, the focus of the news is not only the gains from past purchases but also Hayes’s expectation for the rally to continue.

The price target is Hayes’s personal expectation; Lookonchain’s position calculation is based on data at the time of the post. There is no information in the source post suggesting that this profit has been realized through a sale.

Source: Lookonchain