Arthur Hayes has accumulated unrealized gains of $3.28 million on a 25.33 million ENA position purchased one month ago at an average price of $0.09. The total investment of approximately $5.53 million now reflects a return of roughly 146%. On-chain monitoring indicates Hayes maintains a bullish outlook for the asset with a price target of $0.50. This significant accumulation highlights continued high-conviction positioning in the Ethena ecosystem by prominent crypto figures.