The co-founder of Bitmex and billionaire Bitcoin Arthur Hayes bought Ethereum a week after sold a large tranche.
Onchain’s data show that Hayes discharged 2,373 ether (ETH), worth around $ 8.32 million at the time, when the token was negotiated nearly $ 3,507. The sale, which occurred about a week ago, locked the profits before the last rally of Ether.
In a reversal, the Crypto analyst destroyed $ 10.5 million in USDC (USDC) on several transactions on Saturday, the stablecoins aimed at buying ETH at prices greater than $ 4,150, much higher than its previous output point.
“I had to bake everything, you forgive me @fundstrat?” He wrote on X, marking Tom Lee, co-founder and research manager at FS Insight by Fundstrat. “I swear that Pinky, I will never become profit again,” he added.
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Hayes warns against crypto
Last week, Hayes, who was director of investments at the Maelstrom Fund, warned that the macroeconomic pressures could bring Bitcoin (BTC) to $ 100,000.
Citing features of prices renewed after the low pay report in July, which has shown only 73,000 new American jobs, Hayes said that slow credit growth in large economies could weigh on nominal GDP and push bitcoin and ether less than $ 100,000 and $ 3,000, respectively.
In anticipation, Hayes sold more than $ 13 million in crypto, including $ 8.32 million from ETH, $ 4.62 million from Ethena (ENA) and $ 414,700 in pepe (PEPE).
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Institutions increased $ 4.17 billion
Since July 10, more than 1.035 million ETH, worth around 4.17 billion dollars, have been accumulated by a group of unknown whales and institutions through institutional trading exchanges and platforms, according to data accumulated by EMBCN.
The increase in the purchase activity coincided with the solid price rally of Ethereum, from $ 2,600 to $ 4,000 during the month, an increase of 45%.
Embercn said that most ETH raised by these addresses are probably held by American public institutions or public companies to build ETH reserves, excluding entities like Sbet whose addresses are known publicly. The average acquisition price of these assets is estimated at around $ 3,546.
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