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Arthur Hayes Conducts $13.3 Million Sale of ETH and ENA, Affecting Market

Arthur Hayes Conducts $13.3 Million Sale of ETH and ENA, Affecting Market

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by Giorgi Kostiuk

12 hours ago

Recent actions by Arthur Hayes, former CEO of BitMEX, have attracted attention to the crypto market following his $13.3 million sales.

Arthur Hayes's Crypto Sale

Arthur Hayes conducted significant sales involving 2,373 ETH and 7.7 million ENA, totaling around $13.3 million, detected through on-chain analytics within six hours.

Market Impact

These sales potentially impacted the dynamics of ETH and ENA prices, leading to discussions on trader influence in sector volatility. Notably, Ethereum prices dropped by 5% in conjunction with these sales.

Expert Opinions

Without an official statement from Hayes, it is difficult to ascertain the exact market effect of his actions, but observers note that such significant sell-offs by industry insiders have historically caused considerable tremors.

In the past six hours, I’ve sold 2,373 ETH and 7.7 million ENA along with a substantial amount of PEPE, totaling around $13.3 million.Arthur Hayes, Co-Founder & Former CEO, BitMEX

Arthur Hayes's actions raise questions about the influence of major traders on the global cryptocurrency market and its volatility.

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