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BitMEX co-founder Arthur Hayes was noticed transferring tens of millions of {dollars} price of altcoins to crypto alternate Binance.
In line with blockchain monitoring agency Lookonchain, Hayes despatched over $8.47 million price of Ethena (ENA) to Binance, presumably to promote on the open market.
“Arthur Hayes beforehand amassed 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 value.”
In line with blockchain “de-anonymizing” service Arkham, Hayes additionally sent a further $2.42 million price of ENA to a different pockets containing over $11 million price of crypto. Arkham notes that the receiving pockets could also be owned by Hayes as properly however the agency is just not 100% sure.
In a latest essay, Hayes said that the crypto markets could possibly be liable 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 huge 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 straightforward option to make manufacturing prices globally aggressive in America rapidly. It’s going to result in a right away re-shoring of productive capability, resulting in a rise in hiring immediately and never 5 years from now.
Earlier than we get to the crack-up-boom section 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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