Arthur Hayes Sells $28.8 Million of Crypto in 24 Hours, Realizes $6.65 Million Profit
Summary
- Arthur Hayes 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 and ZAMA generated little profit.
- According to on-chain analysis, Hayes closed out most of his altcoin holdings and withdrew 49.25 million USDC, with the market focused on whether he is raising cash ahead of a potential price drop.
Forecast Trend Report by Period
BitMEX co-founder Arthur Hayes sold about $28.8 million worth of cryptocurrencies over the past 24 hours.
On-chain analytics firm Lookonchain said on Oct. 26 that Hayes disposed of tokens worth a combined $28.8 million during that period, realizing about $6.65 million in profit.
He also sold another 14 million Ethena (ENA) tokens about two hours earlier. The sale was valued at roughly $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 moved tokens to multiple exchanges and then withdrew a total of 49.25 million USDC, suggesting he had closed out most of his altcoin holdings.
Hayes has previously said he was unwinding his positions. The market is focusing on whether the large sale was aimed at raising cash ahead of a potential price decline.
