Arthur Hayes Increases Crypto Purchases Amid Market Recovery

Arthur Hayes' Crypto Activity Surge

  • Arthur Hayes, former BitMEX CEO, increased his crypto purchases significantly.
  • He acquired ENA, ETHFI, and PENDLE as the market cap reached $3.11 trillion.
  • Recent transactions included 2.01M ENA ($571.6K), 218K PENDLE ($589.8K), and 330.99K ETHFI ($257.4K).

Hayes’ wallet transfers

  • Hayes' wallet shows consistent inflows, now holding over 4.89 million ENA, 696,000 ETHFI, and 218,000 PENDLE.
  • Historically bullish on privacy coins like ZEC, predicting high valuations.

Market Conditions

  • Bitcoin recently dipped to ~$80,500, which Hayes sees as a potential cycle floor.
  • Confidence in crypto rises with improving liquidity conditions and potential US Fed rate cut.
  • Markets predict a 79% chance of December rate cut; Hayes expects BTC to hit $200,000-$250,000 if liquidity increases.

ETH Timing Observations

  • Hayes sold $7.4M in tokens, including 1,480 ETH, prompting jokes about his "cursed" ETH timing.
  • Despite timing criticisms, Hayes remains optimistic about an upward market trend.