Arthur Hayes, co-founder of BitMEX, transferred millions of dollars worth of altcoins. It was reported that these transfers were made to the Binance crypto exchange. According to blockchain tracking firm Lookonchain, Hayes sent $8.47 million worth of Ethena (ENA) to the Binance exchange. It is thought that this move was carried out for the purpose of selling on the open market.
ENA Coin Sales
Arthur Hayes accumulated a total of 16.79 million ENA at $0.67 between November 26-28. It is stated that he made a profit of $7.7 million from this position at current prices.
According to Arkham, which provides a blockchain “de-anonymization” service, Hayes also sent $2.42 million in ENA to another wallet. It was stated that this wallet contained over 11 million dollars of crypto. Arkham stated that this wallet may belong to Hayes, but it is not 100% certain.
Hayes’ Views on Crypto Markets
Arthur Hayes said in a recent article that crypto markets could experience a “traumatic” correction following the inauguration of US President Donald Trump. Hayes suggested that Trump could devalue the dollar against gold within his first 100 days, making production costs competitive in America.
“Trump is a shrewd politician who knows his base well, and that means he will take big steps. “That means my cash reserves will be invested in a massive devaluation of the dollar against gold in its first 100 days.”
Hayes stated that before the “crack-up-boom” phase in the crypto bull market, he expected a significant decline in crypto markets on January 20, 2025, Trump’s inauguration day. In this process, it is hoped that some positions will be reduced in advance and repurchased at lower prices.
Hayes’ actions and comments indicate that fluctuations may continue in the crypto markets. Such moves by large investors can affect market dynamics and be an indicator for investors to pay attention to.
Such large transfers and predictions in the cryptocurrency markets once again reveal the volatile nature of the sector. Investors continue to closely follow market movements and strategies of major players.
Data provided by blockchain analysis companies offer important clues about the future of crypto markets. Major transfers and strategic moves of investors play a critical role in determining the direction of the markets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
