BitMEX founder Arthur Hayes has again voiced optimism on ENA, saying over-the-counter brokers have started reaching out to ask about borrowing dollars, which he described as a sign that the basis trade is returning. Hayes said interest rates are still too low, but argued that the shift is constructive for ENA and that the token has substantial upside. The latest remarks follow his earlier purchases this month, when he accumulated 22.64 million ENA worth about $2 million. Earlier in the month, Hayes also said that if rising U.S. dollar liquidity helps push BTC higher, a recovery in bitcoin basis yields could draw capital back into USDe. He added at that time that ENA could have the potential to rise fivefold over the coming months. Despite that view, HTX market data showed ENA was down 7.1% over the past 24 hours, trading at $0.15.
BitMEX founder Arthur Hayes renewed his bullish stance on ENA on Aug. 25, saying over-the-counter brokers have started contacting his side to ask about borrowing dollars.
Hayes said interest rates are still too low, but called the development a positive sign that the basis trade is returning. He added that ENA would benefit from that shift and said the token has significant upside.
According to the report, Hayes had already accumulated 22.64 million ENA earlier this month, with the purchases valued at about $2 million.
Earlier in the month, he also said that if increased U.S. dollar liquidity pushes BTC higher, a rebound in bitcoin basis yields could attract capital back into USDe. At that time, he said ENA could potentially deliver a 5x gain over the coming months.
HTX market data showed ENA was down 7.1% in the past 24 hours and last traded at $0.15.
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