Arthur Hayes Scoops Up $8.4M in ETH and Blue-Chip Alts in Latest Buying Spree
Main Idea
Arthur Hayes purchased $8.4 million in ETH and blue-chip altcoins, coinciding with Ethereum's surge past $4,300, driven by institutional accumulation and technical breakout signals.
Key Points
1. Arthur Hayes bought 1,500 ETH ($6.35M), 425,000 LDO ($557K), 420,000 ETHFI ($517K), and 185,000 PENDLE ($1.02M), reversing his earlier bearish stance on ETH.
2. Ethereum surged past $4,300, marking its highest weekly close since November 2021 with a 21% gain, fueled by institutional adoption.
3. Public companies like BitMine Immersion Technologies and SharpLink Gaming hold significant ETH treasuries, with 17 firms collectively holding 1.74M ETH ($6.9B).
4. Ethereum ETFs recorded $461M in daily net inflows, with BlackRock’s ETHA ETF surpassing $11B in net assets.
5. Technical analysts identify Ethereum’s breakout as a Wyckoff 'Sign of Strength,' with potential targets reaching $6,000-$8,000.
Description
BitMEX co-founder Arthur Hayes has executed an aggressive $8.4 million crypto buying spree over the past 24 hours, accumulating 1,500 ETH worth $6.35 million alongside substantial positions in blue-chip DeFi tokens, including LDO, ETHFI, and PENDLE. Source: Arkham The strategic purchases come as Ethereum breaks through the psychological $4,000 barrier after seven previous rejections, with Hayes reversing his earlier bearish stance that predicted ETH would drop to $3,000. Hayes acquired 425,000 L...
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