While much of the altcoin market remains range-bound, Ethena token is quietly attracting aggressive whale accumulation. ENA price has climbed nearly 17% over the past week after Arthur Hayes added another 10.9 million tokens to his growing Ethena position. The renewed buying comes as the token builds a bullish technical structure, raising speculation that ENA could be on the verge of a much larger breakout than the market currently expects.
Arthur Hayes Extends ENA Buying Spree
Fresh on-chain data is reinforcing the bullish narrative around Ethena. According to Lookonchain, Arthur Hayes purchased another 10.9 million ENA worth approximately $985,000, continuing a steady accumulation strategy rather than making a one-time purchase.
The latest transaction increases Hayes’ total acquisitions over the past five days to 22.64 million ENA, valued at nearly $2 million. The sustained buying spree has caught the market’s attention because it reflects growing conviction from one of crypto’s most closely followed investors. Instead of chasing short-term momentum, Hayes appears to be steadily building exposure while ENA continues trading below its previous highs.
Why Ethena Is Back on Investors’ Radar
Beyond whale activity, Ethena’s broader ecosystem continues to strengthen. The protocol has emerged as one of the fastest-growing projects in decentralized finance through its synthetic dollar ecosystem and expanding institutional integrations. As capital gradually rotates back into high-quality DeFi projects, ENA has started outperforming several large-cap altcoins over the past week.
The combination of improving fundamentals, growing ecosystem adoption, and sustained whale accumulation is helping restore investor confidence after months of sideways trading. With market sentiment gradually improving, traders are increasingly viewing Ethena as one of the stronger candidates to lead the next phase of the altcoin recovery.
ENA Price Analysis: Can Ethena Surpass $0.130?
ENA price is beginning to display one of its strongest recovery structures in recent months. After successfully defending the $0.07-$0.075 demand zone, the token has broken above a multi-week descending trendline while continuing to print higher lows. Trading volume has also increased during the recovery, suggesting buyers are becoming more aggressive as momentum builds.
The immediate resistance lies near $0.10, but the level attracting the most attention is the $0.13-$0.14 supply zone. This area has rejected multiple rallies in the past and now represents the key breakout level for bulls. A decisive daily close above this resistance could invalidate the broader bearish trend and accelerate buying momentum toward the next major resistance levels. However, if ENA fails to hold above the $0.085 support region, the breakout scenario could be delayed as traders lock in short-term profits.
Can Ethena Lead the Next Altcoin Rally?
Ethena is beginning to combine the ingredients investors typically look for during the early stages of a sustained recovery. Whale accumulation is accelerating, ecosystem fundamentals continue to improve, and the technical structure is steadily shifting in favor of the bulls.
While confirmation still depends on a breakout above the $0.13-$0.14 resistance zone, Arthur Hayes’ continued accumulation has added significant credibility to the bullish narrative. If buyers maintain the current momentum, ENA price could emerge as one of the standout performers during the next leg of the altcoin market recovery.
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