Arthur Hayes, co-founder of BitMEX, has purchased over 4.89 million ENA tokens, valued at more than $3 million, over the past two days. This significant acquisition, revealed by on-chain data from Lookonchain, indicates strong whale conviction and a bullish sentiment towards ENA. The purchases were strategically executed across multiple wallets. Analysts highlight that ENA's consistent rebounds from the $0.22–$0.24 support zone, coupled with increasing protocol revenue, suggest a positive long-term outlook. Technical indicators and historical recovery patterns from this support level point to potential price targets of $0.50, $0.80, and possibly $2–$5 by 2026.