Arthur Hayes Sold a Large Amount of Ethereum and Two Altcoins
It has been claimed that BitMEX co-founder Arthur Hayes sold a significant portion of his Ethereum ($ETH) holdings following a nearly 3% drop in price.
According to on-chain data, Hayes had purchased a total of 3,298 $ETH through OTC transactions over the past two weeks at an average price of $1,916. However, an address believed to belong to Hayes transferred 2,364 $ETH to addresses linked to Cumberland and Galaxy Digital approximately two hours ago.
Following these transfers, 4.30 million USDC was sent to Hayes’ wallet. The transaction flow suggested that the transferred Ethereum was most likely sold.
Assuming Hayes sold 2,364 $ETH, the transaction is estimated to have resulted in a loss of approximately $220,000.
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In addition, on-chain data revealed that Arthur Hayes recently sold $658,000 worth of SYN and $248,000 worth of ENA.
BitMEX, the cryptocurrency exchange founded by Hayes, recently announced its decision to permanently close down.
*This is not investment advice.
