BitMEX co-founder Arthur Hayes was noticed transferring hundreds of thousands of {dollars} value of altcoins to crypto alternate Binance.
In keeping with blockchain monitoring agency Lookonchain, Hayes despatched over $8.47 million value of Ethena (ENA) to Binance, presumably to promote on the open market.
“Arthur Hayes beforehand gathered 16.79 million ENA ($11.21 million) at $0.67 between Nov twenty sixth and Nov twenty eighth, making a revenue of $7.7 million on the present value.”
In keeping with blockchain “de-anonymizing” service Arkham, Hayes additionally sent an extra $2.42 million value of ENA to a different pockets containing over $11 million value of crypto. Arkham notes that the receiving pockets could also be owned by Hayes as properly however the agency just isn’t 100% sure.
In a latest essay, Hayes said that the crypto markets might be susceptible to witnessing a “harrowing” correction following the inauguration of President-elect Donald Trump.
“The persons are impatient as a result of they’re determined. Trump is an astute politician and is aware of his base. To me, meaning he should go large early, which is why my cash is on a large greenback vs. gold devaluation early into his first 100 days in workplace. It’s a simple option to make manufacturing prices globally aggressive in America rapidly. It would result in a direct re-shoring of productive capability, resulting in a rise in hiring right now and never 5 years from now.
Earlier than we get to the crack-up-boom part on this crypto bull market, I imagine the crypto markets will expertise a harrowing dump round Trump’s January twentieth, 2025 inauguration day. Maelstrom shall be lightening up on sure positions upfront, hoping to rebuy some core positions at decrease costs someday in 1H25.”
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