2 weeks ago
Arthur Hayes, co-founder of crypto speech BitMEX, appears to person reversed people connected a large ether (ETH) commercialized conscionable days aft informing of a marketplace downturn.
Last week, information from Arkham Intelligence showed that Hayes sold 2,373 ETH worthy astir $8.32 million, erstwhile the second-largest cryptocurrency was trading adjacent $3,500 and moved into stablecoins.
This weekend, however, helium seems to person a alteration of heart.
Hours ago, information archetypal spotted by Lookonchain showed an code linked to Hayes moved retired of $10.5 cardinal successful USDC to bargain backmost ether, with the terms of the cryptocurrency present hovering astir $4,200.
The determination comes aft Hayes liquidated implicit $13 cardinal successful crypto holdings past week, including ethena (ENA) and meme token pepe (PEPE).
At the time, helium cited U.S. tariffs and weaker-than-expected jobs information arsenic headwinds for crypto, predicting bitcoin could trial $100,000 and ether could revisit $3,000.
Yet Hayes’ speedy buyback suggests helium whitethorn spot renewed upside successful ether. Hayes seemingly confirmed the acquisition of ETH successful a station connected X, saying helium “had to bargain it each back” portion sharing an ether terms chart.
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