Arthur Hayes Buys Another $6.39 Million Worth of ETH, Despite $301,000 Paper Loss: Here's What He's Betting On
Despite a paper loss of $301,000 on his existing holdings, Arthur Hayes, former BitMEX CEO and CIO of Maelstrom, purchased an additional $6.39 million worth of ETH. According to Lookonchain, his total purchases since July 15 amount to 7,213 ETH ($13.87 million) at an average entry price of $1,923. This marks a sharp reversal from June, when a wallet linked to him sold 6,000 ETH at a $606,000 loss. Hayes is known for his volatile trading shifts based on macroeconomic views, consistently maintaining a bullish long-term outlook for crypto. His latest buying spree coincides with a broader ETH recovery and a notable surge in institutional demand, with Ethereum ETFs significantly outpacing Bitcoin ETFs in weekly inflows recently.
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