Arthur Hayes, the founder of BitMEX and a closely followed figure in the cryptocurrency market, continues to increase his Ethereum investments. According to data shared by the on-chain analytics platform Onchain Lens, Hayes purchased approximately 1,337 ETH using a total of 2.5 million USDC.
According to the shared information, Hayes initially transferred 2.5 million USDC to his Galaxy Digital account. Following the transfer, it was determined that 1,337 Ethereum (ETH) was purchased with these funds. At the time of the transaction, the total value of the purchased ETH was approximately $2.5 million.
According to data reported by Onchain Lens, Hayes didn’t stop there. The renowned investor was also seen sending the same amount, 2.5 million USDC, to the FalconX institutional digital asset trading platform account.
However, it was noted at the time of the announcement that the transaction related to this transfer was not yet complete and the process was pending. Market participants speculate that these funds could also be used to purchase Ethereum or another digital asset.
Arthur Hayes has attracted attention in recent years, particularly with his optimistic views on Ethereum and the decentralized finance (DeFi) ecosystem. In his previous assessments, he stated that improving global liquidity conditions and expectations of monetary policy easing could support risky assets, especially Ethereum.
On-chain transactions by major investors in the cryptocurrency market are closely watched by investors. In particular, the purchases and sales made by industry leaders like Arthur Hayes are considered important indicators of market sentiment.
While analysts emphasize that large-scale purchases alone are not sufficient to determine price direction, they note that the continued interest in Ethereum from institutional and high-capital individual investors can be considered a positive signal for the market in the long term. How the second 2.5 million USDC sent to FalconX will be utilized will become clearer in the coming days with on-chain data.
*This is not investment advice.
Continue Reading: BitMEX Founder Arthur Hayes Made a Large Purchase of This Altcoin! Here Are the Details