Arthur Hayes Sells $13.3M in ETH, ENA, PEPE Tokens
- Arthur Hayes sold $13.3 million in crypto, impacting market dynamics.
- Transactions include 2,373 ETH and 7.7 million ENA.
- Hayes’s actions contribute to increased market volatility.
Arthur Hayes, former BitMEX CEO, initiated crypto sales involving 2,373 ETH and 7.7 million ENA, valued at $13.3 million, identified via on-chain analytics within six hours.
The sales, potentially impacting ETH and ENA market dynamics, trigger discussion on trader influence in sector volatility, though Hayes’s motives remain undisclosed.
Arthur Hayes, the former CEO and co-founder of BitMEX, recently carried out significant sales amounting to $13.3 million. These transactions involved 2,373 ETH and 7.7 million ENA, detected by on-chain analytics.
Hayes’s actions did not come with an official statement explaining the motives, seen primarily via major DeFi platforms like Uniswap. This has led analysts to emphasize the correlation with increased market volatility.
“In the past six hours, I’ve sold 2,373 ETH and 7.7 million ENA along with a substantial amount of PEPE, totaling around $13.3 million.” – Arthur Hayes, Co-Founder & Former CEO, BitMEX
The market impact includes a 5% drop in Ethereum prices coinciding with these sales. Without formal commentary from Hayes, the exact share of the effect attributable to his trades remains uncertain but notable.
Market observers suggest that Hayes’s actions may signal potential short-term volatility, echoing historic instances where significant sell-offs by industry insiders have caused market tremors. No regulatory body has made a direct intervention or statement on this matter.
