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

Key Facts

1Arthur Hayes purchased 25.33 million ENA tokens from the Ethena protocol.

2Ethena approved allocating 95% of revenue toward token buybacks.

In a move reflecting growing confidence in decentralized finance revenue models, prominent investor Arthur Hayes has acquired 25.33 million ENA tokens from the Ethena protocol. This accumulation follows Ethena's governance approval to allocate 95% of the protocol's net revenue toward token buybacks and redistribution to holders. According to reports, this strategic shift in the fee-sharing model is designed to support the token's market value and enhance the long-term sustainability of the protocol's ecosystem.

Market data indicates that Ethena's Total Value Locked (TVL) has reached $5.21 billion, strengthening its fundamental position within the sector. Alongside these developments, Hayes has publicly set a price target of $0.50 for the token, while technical analysis highlights key resistance levels near $0.1976. Traders are closely monitoring how the market responds to the new supply-demand dynamics introduced by the massive 95% revenue buyback program.

Regarding current market levels, authoritative price data for ENA is unavailable as of the September 20, 2026 close, necessitating a focus on qualitative liquidity trends. Looking ahead at the economic calendar, while there are no direct crypto-specific catalysts, investors should watch for broader market sentiment drivers including Canada’s inflation rate data and the U.S. NY Empire State Manufacturing Index scheduled for release in the coming days.