مركز آرثر هيس في إيثينا (ENA) بقيمة 25.33 مليون توكن يكدّس أرباحًا غير محققة بقيمة 3.28 مليون دولار

COINOTAG - FASTEST CRYPTO NEWS · 2026-09-20T05:38:29.000Z

• يحتفظ آرثر هيس بـ25.33 مليون توكن من ENA تم شراؤها بمتوسط يقارب 0.09 دولار. • يحمل مركز هيس في إيثينا أرباحًا غير محققة تقارب 3.28 مليون دولار، بنسبة عائد 146%. • وضع هيس هدف 0.50 دولار لـ ENA في تقييمه للسوق بتاريخ 3 سبتمبر. آرثر هيس جالس على ربح ورقي بقيمة 3.28 مليون دولار يَجلس مؤسس شركة BitMEX آرثر هيس على ربح ورقي يقدَّر بنحو 3.28 مليون دولار من مقتنياته في إيثينا (ENA)، وتكشف بنية هذا المركز القصة. تُظهر تتبعات على السلسلة نُشرت في 20 سبتمبر 2026 عبر منشور مراقبة على السلسلة لاقى انتشارًا واسعًا أن هيس جمع 25.33 مليون توكن من إيثينا قبل نحو شهر واحد تقريبًا بمتوسط دخول يقارب 0.09 دولار. وهذا يعني أن تكلفة مبدئية تقارب 2.28 مليون دولار، بينما كانت قيمة الرهان نحو 5.53 مليون دولار عندما تم نشر المنشور — أي ربح غير محقق يقارب 3.28 مليون دولار وعائد ورقي يقارب 146%. إن هدف 0.50 دولار المتداول الآن ليس جديدًا: فقد وضعه هيس لأول مرة في تقييم للسوق نُشر في 3 سبتمبر. إذا وصل ENA يومًا إلى هذا المستوى، فستحمل الـ25.33 مليون توكن قيمة نظرية تقارب 12.67 مليون دولار، ما سيدفع الربح الورقي إلى ما يزيد على 10 ملايين دولار مقابل أساس تكلفة غير متغير — أي نحو 2.4x مقارنةً بما كان عليه سعر التوكن في الوقت الذي نُشر فيه المنشور. هناك تفصيل يستحق الدقة: رقم 5.53 مليون دولار يعكس القيمة الحالية للمقتنيات، وليس تكلفة الشراء — فحساب الدخول يعتمد على متوسط سعر 0.09 دولار، وليس على شراء بقيمة 5.53 مليون دولار. ومن اللافت أيضًا ما الذي يُظهره المركز من خلال عدم القيام بأي شيء: يبدو أن الرهان تم الاحتفاظ به بدل تقليصه بينما ارتفع السعر، وهذا يضع فعليًا ثقل المستثمر خلف قراره الخاص بشأن بروتوكول إيثينا، مُصدر الدولار الاصطناعي USDe. وقد قرن هيس هدف ENA بعلامات أخرى لنهاية عام 2026، بما في ذلك 10,000 دولار للإيثريوم و2 دولار لإيثير.fi، على الرغم من أنه لم تتم نشر نموذج تقييم تفصيلي وراءها.

• Arthur Hayes holds 25.33 million ENA bought at an average of about $0.09.
• Hayes' Ethena position carries roughly $3.28 million in unrealized profit, a 146% return.
• Hayes set a $0.50 ENA target in his September 3 market assessment.
Arthur Hayes Sits on a $3.28M Paper Gain
BitMEX co-founder Arthur Hayes is sitting on a paper profit of roughly $3.28 million on his Ethena (ENA) holdings, and the structure of that position tells the story. On-chain tracking published on September 20, 2026 via a widely shared on-chain monitoring post shows Hayes accumulated 25.33 million Ethena tokens about a month earlier at an average entry of approximately $0.09. That implies an initial outlay near $2.28 million, while the stake was valued at roughly $5.53 million when the post went live — an unrealized gain of about $3.28 million and a paper return of approximately 146%. The $0.50 target now back in circulation is not new: Hayes first laid it out in a market assessment published on September 3. If ENA ever reached that level, the 25.33 million tokens would carry a theoretical value of about $12.67 million, pushing the paper gain past $10 million against an unchanged cost basis — roughly 2.4x where the token traded around the time of the post. One detail deserves precision: the $5.53 million figure reflects the current value of the holdings, not the purchase cost — the entry math rests on the $0.09 average price, not a $5.53 million buy. Just as notable is what the position shows by not doing anything: the stake appears to have been held rather than trimmed while the price ran, which effectively puts the holder's weight behind his own call on the Ethena protocol, the issuer of the USDe synthetic dollar. Hayes has paired the ENA target with other year-end 2026 marks, including $10,000 for Ethereum and $2 for Ether.fi, though no detailed valuation model has been published behind them.
Volume Surge Carries ENA Toward $0.20
The rally behind that paper gain accelerated through the past session, driven as much by liquidity as by sentiment. Market data as of September 20 shows ENA up 8.66% over 24 hours to about $0.198 — a clear divergence from Bitcoin, which drifted slightly lower and held near $80,460. The move capped a strong run: on September 19 the token climbed from $0.1684 to $0.2042, gaining more than 21% and touching an intraday high of $0.2102 before consolidating around the $0.20 mark. Liquidity, not headlines, looks like the engine. ENA's 24-hour trading volume surged 84.82% to roughly $1.03 billion, and a volume-to-market-cap ratio of 0.52 points to active capital rotating through the token rather than thin, drift-driven gains. The broader trend is intact as well: ENA is up 39.96% over seven days and 58.75% over the past month, though it remains well short of its all-time high. Aggregated market data flags no single discrete catalyst; instead, sentiment around growth in the USDe ecosystem — along with expectations of future airdrops or integrations — is credited with sustaining the bid. A week of steady gains has kept short-term traders constructive, though the shape of the move — one heavy-volume day inside a longer uptrend — argues for confirmation rather than chasing. The near-term map is straightforward: $0.20 is the psychological resistance to reclaim, and whether volume holds above roughly $800 million is the gauge for follow-through. On the downside, a failure to defend $0.185 would weaken momentum and could drag the price back toward the 7-day simple moving average near $0.186. Bitcoin's ability to stay stable around $80,460 is the other variable: a sharp BTC slide would likely widen selling pressure across the altcoin complex, ENA included.
The $0.50 Road
Our read: what connects the two threads — Hayes' untouched 25.33 million-token stake and the volume-led push toward $0.20 — is conviction expressed through positioning rather than news flow. The load-bearing primary record here is the on-chain tracking post cited above, which fixes both the entry price and the fact that the stake remains intact; that matters more than any target. Recent supply-side groundwork adds context, from an ENA buyback vote that drew 17.8 million tokens in favor to the foundation's four token overhauls aimed at easing unlock pressure. Spot has moved another 11.2% in the past 24 hours, but $0.50 still sits about 2.4x above current levels — and elevated volatility, with the FOMO-driven chasing it can breed, remains the core risk on that road.