6 hour ago
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Arthur Hayes Shifts $5.53M from Ethereum to DeFi Tokens
Arthur Hayes, co-founder of BitMEX, shifted his investment strategy by reallocating funds from Ethereum to specific DeFi tokens. This move indicates a strategic focus on protocols poised for growth as liquidity conditions change.
Key Actions and Insights
- Sold 1,871 ETH over two weeks, valued at approximately $5.53 million, using Ethereum as a funding source rather than exiting it entirely.
- Reinvested into DeFi protocols: Pendle, Lido DAO, Ethena, and Ether.fi, highlighting a belief in their potential amid improving fiat liquidity.
- Investments included 961,113 PENDLE (~$1.75 million), 2.3 million LDO (~$1.29 million), 6.05 million ENA (~$1.24 million), and 491,401 ETHFI (~$343,000).
- Follow-up purchases increased positions in ENA and ETHFI, signaling confidence in these protocols' yield generation and infrastructure roles.
- The focus is on yield markets, staking liquidity, synthetic dollar mechanics, and emerging restaking yield, indicating a preference for solid exposure over narrative-driven trades.
Hayes emphasizes that while Ethereum remains crucial, the strongest opportunities lie within DeFi protocols converting ETH into productive assets linked to revenue.
