Interesting move. Arthur Hayes's associated address withdrew 60.95 million ENA from a major exchange 7 months ago (worth about $1.7 million at the time), then transferred it into Ethena staking. During this period, ENA rose to $0.8, and the investor chose to hold rather than reduce their position. But the turning point came recently—just 7 hours ago, when all these tokens were transferred back to the exchange. From another perspective, if they sell everything now, they would incur a loss of approximately $455,000 based on the current price (not including staking gains). From a cost basis of $0.2792 to $0.8, they held without selling, but instead transferred everything to the exchange at a high point... This operation is indeed worth market participants' attention.