Arthur Hayes: Dumps 14M ENA for $2.73M

Arthur Hayes sold another 14 million ENA tokens for $2.73 million two hours ago, according to on-chain tracker @lookonchain. Over the past 24 hours the former BitMEX CEO has offloaded $28.8 million in tokens and booked $6.65 million in profits, with the bulk coming from ETH and ENA while breaking even on UNI, ETHFI, AERO, PENDLE and ZAMA.

ENA trades at $0.19 inside its Bollinger Bands on the 4-hour chart, with price pinned between the $0.18 lower support and $0.21 upper resistance while both the 50- and 200-period EMAs sit at $0.20. The MACD has printed a death cross and RSI at 43.46 remains neutral, leaving the token in a clear bearish structure that suggests any bounce toward the upper band will likely meet renewed selling before a test of the EMA cluster.