Arthur Hayes Triggers Market Shockwave: Dumps $13.3M in Ethereum, Pepe, and Ethena—What’s Next?
Crypto heavyweight Arthur Hayes just sent shockwaves through the market—liquidating $13.3M worth of Ethereum, Pepe, and Ethena in a single move. Was this a strategic exit or panic selling? Here’s the breakdown.
The Sell-Off Heard ‘Round Crypto
Hayes’s portfolio purge—timed like a Wall Street trader fleeing a sinking ship—includes blue-chip ETH and meme darling Pepe. The move drops during a tense market lull, sparking instant FUD. But let’s be real: when a whale dumps, retail gets the crumbs.
Timing Is Everything (Or Nothing)
No press release, no tweetstorm—just cold, hard blockchain receipts. Classic Hayes. The silent exit begs the question: does he know something we don’t, or is this just another rich guy rebalancing for his third yacht?
Cynic’s Corner: Finance Never Changes
Memo to bagholders: the only ‘decentralized’ thing in crypto is the blame game after a crash. Hayes’s sell-off? Just Tuesday for the 1%. Meanwhile, the rest of us HODL and pray.
Arthur Hayes Crypto Sales
A Broader Market ethereum Sell-Off
Meanwhile, Lookonchain identified that besides Hayes, other whales are also selling Ethereum. The analytical platform shared that the wallet address “0x3c9E” has deposited 26,182 ETH ($93.66 million) to several exchanges, including Binance, Bybit, OKX, and Kraken, in the past 48 hours.
Coinbase and Binance have also been depositing Ethereum to Wintermute. In the past 24 hours, they have moved thousands of Ether to the platform, potentially to use its OTC services to dump them with minimal market impact.
Some Others Are Buying the Dip
Nonetheless, some still see the Ethereum correction as an opportunity to buy cheap. For context, a new wallet, “0xdf0A,” received 16,496 ETH ($58.5 million) from the Galaxy Digital OTC address.
Lookonchain pointed out that a total of 12 new wallets have bought 808,347 ETH ($2.85 billion) since July 9.
Meanwhile, SharpLink Gaming also bought the dip, spending another 108.57 million USDC to buy Ethereum. Lookonchain noted that it received 14,933 ETH ($52.5 million) a few hours ago, bringing the Ethereum treasury company’s total Ether holding to 464,209 ($1.63 billion).
