BitMEX co-founder Arthur Hayes was noticed transferring hundreds of thousands of {dollars} value of altcoins to crypto change Binance.
In accordance 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 accrued 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 worth.”
In accordance with blockchain “de-anonymizing” service Arkham, Hayes additionally despatched 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 effectively however the agency just isn’t 100% sure.
In a latest essay, Hayes stated that the crypto markets could possibly be vulnerable 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 straightforward option to make manufacturing prices globally aggressive in America rapidly. It’ll result in a right away 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 section on this crypto bull market, I imagine the crypto markets will expertise a harrowing dump round Trump’s January twentieth, 2025 inauguration day. Maelstrom will probably be lightening up on sure positions upfront, hoping to rebuy some core positions at decrease costs someday in 1H25.”
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