BitMEX co-founder Arthur Hayes was noticed shifting tens of millions of {dollars} price of altcoins to crypto change Binance.
Based on blockchain monitoring agency Lookonchain, Hayes despatched over $8.47 million price of Ethena (ENA) to Binance, presumably to promote on the open market.
“Arthur Hayes beforehand gathered 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.”
Based on blockchain “de-anonymizing” service Arkham, Hayes additionally sent a further $2.42 million price of ENA to a different pockets containing over $11 million price of crypto. Arkham notes that the receiving pockets could also be owned by Hayes as nicely however the agency shouldn’t be 100% sure.
In a latest essay, Hayes said that the crypto markets might be susceptible 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 simple method to make manufacturing prices globally aggressive in America shortly. It is going to result in an instantaneous re-shoring of productive capability, resulting in a rise in hiring at present 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 likely be lightening up on sure positions prematurely, hoping to rebuy some core positions at decrease costs someday in 1H25.”
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