"Arthur Hayes shows signs of selling Pendle and Ethena… about $1 million moved to an exchange"
Minseung Kang
Summary
- It was reported that Arthur Hayes deposited Pendle (PENDLE) 327,869 and Ethena (ENA) 3.6 million into FalconX.
- The value of the transfers was estimated at about $502,000 and about $499,000, respectively.
- The on-chain analytics account said Hayes' selling of his holdings is continuing, suggesting the market should interpret the move cautiously given the possibility of further selling.
Signs have emerged that Arthur Hayes, co-founder of BitMEX, is continuing to sell assets from his holdings.
According to on-chain analytics account Lookonchain on the 3rd, Hayes deposited 327,869 Pendle (PENDLE) and 3.6 million Ethena (ENA) into FalconX. The value of the transfers was estimated at about $502,000 and about $499,000, respectively.
Lookonchain said, "Arthur Hayes' selling of his holdings is continuing," adding that "a recent pattern of multiple tokens moving to exchanges has also been detected."
The market is also weighing the move cautiously, noting that it remains unclear whether it is simply portfolio rebalancing or a precursor to additional selling.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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