Ethena absorbs the 3.63 million ENA transfer from Hayes – why the price of ENA remains stable

Arthur Hayes transferred around 3.63 million ENA, valued at about 487,000 USD, to Galaxy and Binance, reflecting ongoing centralized liquidity dynamics.

Despite rising supply, the market showed strong demand for ENA, with buyers actively absorbing new supply near the critical price level of 0.130 USD.