Arthur Hayes Sells $28.8 Million of Crypto in 24 Hours, Realizes $6.65 Million Profit
Summary
- Arthur Hayes said he sold about $28.8 million worth of cryptocurrencies over the past 24 hours, realizing about $6.65 million in profit.
- Most of the profit from the sales came from Ethereum (ETH) and Ethena (ENA), while trades in UNI·ETHFI·AERO·PENDLE·ZAMA generated little profit.
- On-chain analysis showed Hayes liquidated most of his altcoin holdings and secured 49.25 million USDC, while the market is focused on whether he was raising cash ahead of a potential price decline.
Forecast Trend Report by Period
BitMEX co-founder Arthur Hayes sold about $28.8 million worth of cryptocurrencies over the past 24 hours.
Lookonchain said on Oct. 26 that Hayes disposed of tokens worth a total of $28.8 million during that period, realizing about $6.65 million in profit.
About two hours earlier, Hayes also sold an additional 14 million Ethena (ENA) tokens. The sale was estimated to be worth about $2.73 million.
Most of the profit from the latest sales came from Ethereum (ETH) and Ethena, the analysis showed. By contrast, trades in Uniswap (UNI), Ether.fi (ETHFI), Aerodrome Finance (AERO), Pendle (PENDLE) and ZAMA generated little profit.
Earlier, on-chain analyst EmberCN said Hayes had transferred tokens to multiple exchanges and then withdrew a total of 49.25 million USDC, suggesting he had liquidated most of his altcoin holdings.
Hayes has previously said he was unwinding his positions. The market is focused on whether the large sale was meant to raise cash ahead of a potential price decline.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.