Arthur Hayes, co-founder of BitMEX, has recently invested in Ethereum and various DeFi tokens just days after a significant liquidation of his crypto assets.
Overview of Hayes’ Purchases
In the last two days, Hayes added about 1,750 ETH, valued around $7.45 million, to his crypto wallet. Currently, Ethereum trades near $4,300. He also purchased 425,000 Lido DAO (LDO) tokens for approximately $557,000, 420,000 ETHFi tokens worth $517,000, and 185,000 Pendle (PENDLE) tokens valued at about $1.01 million.
Market Sentiment Change
After his recent purchases, Hayes commented on his actions in a post on X, stating, 'Had to buy it all back, do you forgive me @fundstrat?' and added, 'I pinky swear, I’ll never take profit again.' This may indicate he misjudged the current market situation and the timing of his exit.
Future of DeFi Tokens and Possible Altseason
Hayes’ buying spree could suggest a growing interest in DeFi tokens that offer services like staking and yield farming. Investors are keenly observing the situation, as increasing interest in altcoins might signal an approaching altseason, where smaller cryptocurrencies start to gain value relative to Bitcoin.
Arthur Hayes’ purchases highlight an interest in Ethereum and DeFi tokens and may signal the onset of an altseason. However, amid economic risks and potential regulatory changes, investors should remain cautious.
