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 $2 070 24h volatility: 0.5% Market cap: $249.69 B Vol. 24h: $21.11 B for $7.43 million and 184,610 Pendle PENDLE $1.14 24h volatility: 4.8% Market cap: $187.74 M Vol. 24h: $31.25 M for $1.02 million. Hayes also bought $556,570 worth of Lido DAO LDO $0.35 24h volatility: 1.5% Market cap: $297.25 M Vol. 24h: $27.20 M and $526,600 worth of Ether.fi ETHFI $0.45 24h volatility: 3.7% Market cap: $314.87 M Vol. 24h: $40.33 M  tokens. 

The crypto pioneer also received 10 Ethena ENA $0.12 24h volatility: 3.7% Market cap: $983.12 M Vol. 24h: $88.17 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: $72.90 B Vol. 24h: $10.53 B . 

Last month, Hayes hinted at an “ultra bullish” altseason as Bitcoin BTC $70 401 24h volatility: 1.3% Market cap: $1.41 T Vol. 24h: $46.39 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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