Arthur Hayes Goes on Buying Spree as Market Turns Greedy

Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom fund, has been accumulating multiple altcoins amid positive market sentiment. 

Hayes, who is known for his strong bullish market predictions, sent out roughly $16.5 million in USDC over the past 24 hours to Binance, Kraken, Wintermute, and an unknown address that seems to be an over-the-counter desk, according to on-chain data from Arkham.

So far, he has purchased 1,750 Ethereum ETH $3 623 24h volatility: 6.6% Market cap: $437.32 B Vol. 24h: $31.50 B for $7.43 million and 184,610 Pendle PENDLE $2.90 24h volatility: 8.5% Market cap: $487.60 M Vol. 24h: $53.94 M for $1.02 million. Hayes also bought $556,570 worth of Lido DAO LDO $0.86 24h volatility: 8.2% Market cap: $763.50 M Vol. 24h: $54.10 M and $526,600 worth of Ether.fi ETHFI $1.01 24h volatility: 8.5% Market cap: $572.34 M Vol. 24h: $65.03 M  tokens. 

The crypto pioneer also received 10 Ethena ENA $0.35 24h volatility: 11.2% Market cap: $2.62 B Vol. 24h: $331.64 M tokens from Wintermute, a leading algorithmic crypto trading firm, according to Arkham data. This raises the expectations of purchasing ENA tokens.

In addition to the altcoins, the BitMEX co-founder also received $3.4 million in USDC USDC $1.00 24h volatility: 0.0% Market cap: $75.86 B Vol. 24h: $6.85 B . 

Last month, Hayes hinted at an “ultra bullish” altseason as Bitcoin BTC $106 401 24h volatility: 4.7% Market cap: $2.12 T Vol. 24h: $71.45 B  broke above $110,000. The leading asset then reached an all-time high of $123,000 on July 14.

The crypto market gained upward momentum on Aug. 10 with the rise of the decentralized finance total value locked to April 2021 highs. The TVL surpassed $150 billion. Moreover, the global crypto market cap reached an ATH of $4.06 trillion, according to CoinMarketCap data.

The market sentiment reached the greed zone again, and with the rising DeFi TVL, altcoins might see higher volatility due to the increased liquidity. 

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