In a noteworthy move signaling conviction in the decentralized finance (DeFi) sector, renowned crypto figure and BitMEX co-founder Arthur Hayes has significantly increased his holdings in Hyperliquid (HYPE), Ethena (ENA), and Lido (LDO). This strategic “buy the dip” approach follows recent market corrections, particularly after a period of volatility for Ethereum. Hayes’s investments underscore a belief in the long-term potential of these protocols, even as the broader market presents a mixed technical outlook.
Hayes, known for his astute market observations and contrarian plays, has added substantial amounts of these key DeFi assets to his wallet. On-chain data, highlighted by Lookonchain, reveals the acquisition of 375.000 LDO tokens, valued at approximately $519.500, and 350.000 ENA tokens, worth about $253.350. Furthermore, an investment of 11.000 HYPE tokens, exceeding $530.000, solidifies his bet on the burgeoning perpetual decentralized exchange (DEX). This series of purchases suggests Hayes sees value in these projects following the recent downturn, anticipating a potential bullish resurgence.
Hyperliquid: A Surge in DEX Activity
Hyperliquid, a rising star in the decentralized perpetual exchange landscape, has caught Hayes’s attention amidst its impressive growth metrics. The protocol has seen its DEX volume soar, reaching $1.070.000.000 recently, just shy of its all-time high of $1.260.000.000. This increase in trading activity is a strong indicator of rising platform usage and potential revenue generation, which directly influences the demand for its native HYPE token.
At the time of reporting, HYPE has gained 6%, pushing towards the significant $50,00 psychological level, a move that could establish a new all-time high. The token faces immediate resistance around $48,56. Technical indicators support this upward momentum: the Relative Strength Index (RSI), a gauge of price momentum, sits at a healthy 62 and is trending upwards, suggesting increasing buying pressure. Similarly, the Moving Average Convergence Divergence (MACD) indicator, which tracks trend changes, also signals growing bullish momentum. A sustained breakthrough above $48,56 could pave the way for a rally towards $55,58, aligning with the R2 pivot level.
Ethena: Reaching New Heights in Total Value Locked
Ethena, the innovative synthetic dollar protocol behind USDe, continues to expand its footprint in the DeFi ecosystem, attracting significant capital. The protocol has achieved a remarkable milestone with its Total Value Locked (TVL) — a measure of assets deposited within a protocol — hitting an all-time high of $11.145.000.000. This consistent growth in TVL, up from $11.066.000.000 the previous day, highlights increasing user confidence and adoption of Ethena’s offerings.
Currently, ENA tokens are trading just under 1% higher, holding above the $0,7000 mark. The formation of a “Golden Cross” on its daily chart, where the 100-day Exponential Moving Average (EMA) crosses above the 200-day EMA, typically signals a long-term bullish trend. However, some cautionary signals persist: the MACD line shows a slight decline, risking a bearish crossover, and the RSI has fallen from the overbought zone to 61, indicating a potential cooling of buying pressure. For ENA to consolidate an upward trajectory, a decisive close above the $0,7982 resistance is crucial, potentially setting sights on the key $1,0000 psychological level. Conversely, a slip below $0,6576 could see it test the 50-day EMA at $0,5364.
Lido: Navigating Downside Risks
Lido, a dominant force in liquid staking, also features in Hayes’s recent investments, though its short-term technical outlook appears more cautious. As of Friday, LDO is trading at $1,383, having retraced from a high of $1,444. This recent decline suggests potential downside risk, with a crucial support level at $1,374.
Technical indicators for LDO mirror some of Ethena’s cooling momentum. The RSI has dropped to 64 from an overbought position, and the MACD line is converging with its signal line, hinting at a potential trend reversal. A definitive break below the $1,374 support could see LDO test $1,179. Conversely, a bounce from this support could lead to a retest of the weekly high at $1,628.
Hayes’s calculated bets on Hyperliquid, Ethena, and Lido illustrate his conviction in the resilience and innovation within the DeFi space. While each asset presents its unique technical landscape—from Hyperliquid’s surging volume to Ethena’s record TVL and Lido’s more challenging short-term outlook—these investments collectively reflect a seasoned investor’s belief in the long-term growth story of decentralized finance, even amidst prevailing market uncertainties.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Investors should always conduct their own thorough research and consult with a qualified financial advisor before making any investment decisions in cryptocurrencies, which are highly volatile and speculative assets.
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