Wallets associated with Arthur Hayes sold approximately $22.28 million worth of altcoins, led by 6,400 ETH. In late September, he predicted Ethereum could reach $10,000 by the end of the year.
On-chain data shows Arthur Hayes, the former CEO of the now-closed derivatives exchange BitMEX, disposed of more than $20 million worth of cryptocurrencies in just days. The latest transactions add to a trading history in which he has repeatedly accumulated ETH and then sold substantial portions shortly afterward.
Ether leads the $22.28 million sell-off
According to Lookonchain data, wallets associated with Hayes sold approximately $22.28 million worth of various altcoins. The biggest transaction involved 6,400 ETH worth approximately $15.2 million.
Beyond ETH, the BitMEX co-founder also disposed of 14 million ENA tokens valued at $2.76 million. He also sold 323,000 UNI worth $2.24 million and 1.89 million ETHFI worth around $1.23 million. His remaining sales included over 546,600 AERO, 120,000 PENDLE, and 3 million ZAMA.
Sales clash with a bullish Ethereum call
The move stands out because Hayes has remained publicly bullish on Ethereum. In late September, he predicted that the leading altcoin could skyrocket to $10,000 by the end of the year, arguing that Ethereum is still the most secure layer-one network and is capable of accommodating substantial amounts of capital.
However, he has frequently disposed of major quantities of certain assets during market uncertainty, which has reigned for the past week or so.
Source: CryptoPotato
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