Ethena price jumps 8% despite Arthur Hayes’ $2.7M ENA sale

Ethena price has rebounded toward $0.21 on October 26, gaining nearly 8% in 24 hours despite fresh selling linked to Arthur Hayes, as traders weigh a possible recovery against the token’s month-long decline. Summary ENA recovered toward $0.21, with roughly $420 million in daily trading volume. Arthur Hayes disclosed selling ENA amid concerns about macroeconomic and geopolitical risks. ENA remains more than 20% lower over 30 days despite its latest recovery. Technical indicators put $0.20 support and $0.23 resistance in focus. According to crypto.news price data, ENA traded near $0.207 on Monday, October 26, after moving between $0.1887 and $0.2108 during the previous 24 hours. Its market capitalization stood near $2.77 billion, placing the token among the 40 largest cryptocurrencies. The recovery follows several difficult weeks for ENA, which has lost roughly 22% over the past month. Trading activity has picked up during the rebound, while social attention and technical buying appear to be supporting the move without a confirmed new protocol announcement. Why is Ethena price rising today? ENA’s latest gains follow a correction from its September rally, when the token approached $0....