Recent blockchain activity shows prominent cryptocurrency investors taking opposing positions on Ethereum, highlighting divergent market sentiment in the face of macroeconomic pressures. SharpLink Gaming bolstered its ETH holdings with a $100+ million purchase, signaling strong institutional confidence in Ethereum’s long-term value proposition despite ongoing volatility.
Conversely, former BitMEX CEO Arthur Hayes exited substantial positions across multiple assets, liquidating approximately 2,373 ETH ($8.3 million), 7.76 million ENA tokens ($4.6 million), and nearly 39 billion PEPE tokens ($414,000). Hayes explicitly cited macroeconomic headwinds influencing his decision, including new U.S. tariff policies and weaker-than-expected Non-Farm Payroll data.
The transactions occurred as Ethereum traded near $3,490 – reflecting a minor 0.5% daily dip yet representing a 150% surge since April’s lows. Galaxy Digital CEO Mike Novogratz reportedly maintains bullish Ethereum prospects despite short-term uncertainty. Bitcoin concurrently hovered near $114,058 with analysts closely watching the $111,000–$113,000 support threshold.
These contrasting whale movements underscore how macroeconomic developments increasingly dictate high-stakes crypto investment strategies while highlighting persistent conviction in Ethereum’s structural resilience among institutional players.