Arthur Hayes has recently significantly increased his holdings of Ethereum, attracting market attention. This move is interpreted as a shift in his attitude towards Ethereum and may impact market trends.
Arthur Hayes is suspected of increasing his holdings of Ethereum, attracting market attention.
Recently, a well-known figure in the cryptocurrency industry, Arthur Hayes, founder of BitMEX, had one of his wallet addresses discovered to have significantly increased its holdings of Ethereum ($ETH). According to data provided by blockchain analyst Lookonchain, this wallet has recently accumulated 1,072 Ether, worth approximately $3.425 million. This is the first time in the past three months that such a large-scale increase has occurred in this wallet, raising speculation in the market about Hayes' investment strategy and his renewed interest in Ethereum.
According to the data, these Ether were transferred to Hayes' wallet through three large transactions from the well-known crypto trading company Wintermute. Among them, the latest transaction occurred yesterday (11/10), adding 540.7 Ether, worth approximately $1.73 million. Two days prior, there were two other transactions that added 266.7 and 264.3 Ether, worth approximately $852,000 and $844,000, respectively. These transactions were completed in a short period, resulting in the wallet accumulating over 1,000 Ether in a single day.
Source: Arkham Intelligence. A wallet address under Arthur Hayes, founder of BitMEX, has been found to have significantly increased its holdings of Ethereum.
Having previously criticized Ethereum as 'slow, old, and boring,' has he now changed his strategy?
It is noteworthy that Arthur Hayes publicly criticized Ethereum during an interview with (Unchained). He stated that Ethereum is 'slow, old, and boring,' and even pointed out that Ethereum founder Vitalik Buterin (commonly known as 'V God') tries to become a social media celebrity to attract people's attention because everyone thinks Ethereum is too boring. In contrast, Hayes prefers Solana (SOL), believing it has high volatility and liquidity, making it a high-beta alternative to Bitcoin suitable for short-term trading.
Hayes has stated that when Bitcoin breaks through, he will not buy Bitcoin but will choose to buy Solana.
He believes that $SOL has a higher market volatility, which may lead to greater gains than Bitcoin. He also mentioned that when FTX collapsed, the price of $SOL was around $7, while Ethereum was about $1,200. Now, Solana has risen to about $30, while Ethereum is around $1,800. The price of Ethereum has increased by about 50%, but Solana has risen by 3 to 4 times.
Ethereum's price increase has sparked market discussions.
Recently, the price of Ethereum has continued to rise, reigniting interest in its prospects. As of the time of writing, Ethereum is quoted at about $3,200, having increased by 2.2% in the past 24 hours and up 29.9% over the past week. The total market value of cryptocurrencies has reached $2.73 trillion, with Bitcoin's market value at approximately $1.61 trillion and Ethereum's market value at about $385.5 billion.
Source: TradingView. The total market value of cryptocurrencies has reached $2.73 trillion.
Hayes' large-scale increase in Ethereum holdings is interpreted by the market as a potential shift in his attitude towards Ethereum. Considering Hayes' influence in the crypto community, his actions may impact the market dynamics of Ethereum and investor sentiment.
Market outlook: Will Ethereum continue to rise?
Analysts point out that Hayes' increase in holdings may indicate that he is optimistic about Ethereum's future. With the advancement of the Ethereum 2.0 upgrade, as well as the continued development of decentralized finance (DeFi) and non-fungible tokens (NFTs), the Ethereum ecosystem is becoming increasingly mature.
However, there are also views that the market still needs to be cautious of potential risks. The high volatility of the cryptocurrency market requires investors to act prudently. Additionally, Hayes stated this morning (11/11): 'Some people don't believe Trump will throw away the dollar and print money.' He accompanied this with an image suggesting that the new U.S. government will accelerate money printing, which will lead to a new wave of market turbulence.
Regardless, Arthur Hayes' investment moves undoubtedly add new topics for discussion in the market. Whether Ethereum will continue to rise remains to be seen.
Source: X. Arthur Hayes suggests that the new U.S. government will increase money printing.
