Arthur Hayes Buys $6.39M More Ethereum, Then the ETH Market Starts to Tumble
Arthur Hayes purchased 3,298 extra Ether (ETH) value $6.39 million hours earlier than Ethereum’s spot value slid from $1,960 to $1,872.
The buy extends a shopping for streak that started July 15. Hayes has now spent $13.87 million on 7,213 ETH at a median value of $1,923, leaving him roughly $368,000 underwater.
A Buying Streak Built in Pieces
Hayes assembled the place by way of a string of over-the-counter trades. Onchain trackers flagged transfers to Galaxy Digital, FalconX, and Cumberland since mid-July. Single purchases ranged from roughly 645 ETH to about 1,330 ETH.
The accumulation adopted a reversal. Hayes closed his ETH position in late June at a lack of about $606,000. He then began rebuying on July 15, as Ether recovered above $1,750.
Hayes’ rebuilding traces up with a broader institutional case for Ether. Fundstrat’s Tom Lee has made the same argument, saying establishments are shifting previous merely buying and selling Ethereum towards constructing on it. His Ethereum bull case factors to BlackRock’s tokenized fund and Robinhood’s ETH-based payment token.
Ether Slides With the Broader Market
Ether’s drop got here as broader crypto markets pulled again Tuesday. The Federal Reserve’s two-day coverage assembly concludes this week, and merchants are looking forward to alerts on rates of interest.
Whether this marks a backside or one other early entry is unclear. That depends upon whether or not Ether can reclaim the $1,900 stage it misplaced in the selloff.
A Track Record of Bold Reversals
The Bitmex co-founder constructed his fame on daring trades. He usually exits a place simply as quick as he enters it.
Hayes has talked up tokens like Hyperliquid’s HYPE, Zcash, and Worldcoin in the previous. He then quietly closed these positions as soon as sentiment turned.
Hayes and his Bitmex co-founders pleaded responsible in 2022 to Bank Secrecy Act violations tied to the alternate’s anti-money-laundering failures. President Trump pardoned all three in March 2025, wiping out the convictions.
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