Arthur Hayes Sells Over 1,800 ETH as Portfolio Shifts Toward Stablecoins

Arthur Hayes, co-founder of BitMEX, has been actively selling Ethereum (ETH), transferring significant amounts to exchanges like Binance. In the past week, he sold approximately 1,871 ETH, valued at $5.53 million, using the proceeds to purchase DeFi tokens such as ENA, PENDLE, and ETHFI, despite these tokens having seen major price declines this year. This activity aligns with his stated strategy of rotating out of ETH into high-quality DeFi names as he anticipates improving fiat liquidity. On-chain data from Arkham confirms a major portfolio rebalancing: his ETH holdings have dropped from 6,500 to 3,160 since November, while his stablecoin holdings, primarily USDC, have surged from $1 million to nearly $48 million, now constituting over 60% of his total $74 million portfolio. This shift suggests a more cautious stance or preparation for future buying opportunities.

(Source：BeInCrypto)