The previous CEO of the derivatives large BitMEX has made a number of multi-million-dollar trades over the previous six months or so, however his newest buy raised some eyebrows within the cryptocurrency group.
It’s because it preceded a significant itemizing of the token he purchased, which pushed its value up by double digits.
Did He Know?
Lookonchain information from earlier right this moment exhibits that Hayes obtained over 132,000 ETHFI tokens from Anchorage Digital at $0.55 per one. Shortly after, information emerged on social media that one of many largest South Korean exchanges, Upbit, had listed the asset for buying and selling towards the native received.
Comparable listings by the Asian large have led to speedy value pumps for the underlying asset on nearly all events. One of many newest examples concerned ICP, whose value skyrocketed by over 16% final week.
Though ETHFI is a a lot smaller altcoin, its pump was primarily related, going up by 18% from $0.54 earlier than the announcement to $0.64 minutes after it. Nevertheless, it was halted there and has misplaced nearly all good points, maybe pushed by the general market-wide correction right this moment.
Regardless that some feedback beneath the unique submit certainly questioned whether or not Hayes certainly had some insider data, the quantity of ETHFI he obtained appears reasonably negligible in comparison with what he offered a month in the past – $72.8K now vs. $2.15 million again then.
Fascinating — simply 5 hours after Arthur Hayes(@CryptoHayes) purchased $ETHFI, #Upbit introduced its itemizing.https://t.co/QEgAyVQ4lz pic.twitter.com/9jorCuAHuX
— Lookonchain (@lookonchain) March 19, 2026
Earlier Promote-Offs
CryptoPotato reported in February, shortly after the market tumbled, that Hayes had disposed of numerous DeFi-linked tokens, together with ETHFI. Apart from a $950,000 ETHFI promoting spree, he additionally dumped $1 million price of ENA and $1.1 million price of PENDLE.
Hayes even offered ETH final August, suggesting on the time that the asset’s value is prone to tumble. Nevertheless, the biggest altcoins went on a run as an alternative, leaping by double digits in weeks. As such, Hayes defined that he needed to rebuy at greater costs and requested for forgiveness from the Ethereum group.
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