BitMEX co-founder Arthur Hayes was noticed shifting thousands and thousands of {dollars} value of altcoins to crypto alternate Binance.
Based on blockchain monitoring agency Lookonchain, Hayes despatched over $8.47 million value 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 despatched a further $2.42 million value of ENA to a different pockets containing over $11 million value of crypto. Arkham notes that the receiving pockets could also be owned by Hayes as nicely however the agency isn’t 100% sure.
In a latest essay, Hayes mentioned that the crypto markets could possibly be susceptible to witnessing a “harrowing” correction following the inauguration of President-elect Donald Trump.
“The individuals are impatient as a result of they’re determined. Trump is an astute politician and is aware of his base. To me, which means he should go massive 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 strategy to make manufacturing prices globally aggressive in America rapidly. It can result in a direct re-shoring of productive capability, resulting in a rise in hiring at this time and never 5 years from now.
Earlier than we get to the crack-up-boom part 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 probably be lightening up on sure positions upfront, hoping to rebuy some core positions at decrease costs someday in 1H25.”
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