TL;DR
- Arthur Hayes sold roughly $3.1 million in DeFi tokens, exiting positions in ENA, ETHFI, and PENDLE after sharp declines across all three assets.
- Hayes sold $1.06 million worth of ENA, $954,000 of ETHFI, and $1.14 million of PENDLE, all at heavily depressed prices and within technical oversold zones.
- No signs of subsequent reinvestment or new transactions were detected.
Arthur Hayes, co-founder of BitMEX, sold DeFi tokens for a total amount close to $3.1 million. The transactions were recorded through Arkham data and involved three assets: ENA, ETHFI, and PENDLE. The sales took place after deep price declines in these tokens, which were already down between 85% and 94% from their peaks.
According to the records, Hayes liquidated $1.06 million in ENA, $954,000 in ETHFI, and $1.14 million in PENDLE. In all cases, the sales were executed after steep corrections. Ethena (ENA) lost 86% of its value from its October peak and was trading around $0.1202. Its price broke below local lows and remains under key technical zones, with resistance levels located between $1.5146 and $1.3206.
The DeFi Market Takes a Sharp Hit
Pendle (PENDLE) is down 81% from its October high. The token trades at around $1.14. The RSI stood at 28.30, reflecting a prolonged oversold condition, while the price remains stuck in a consolidation range without meaningful breakouts.
Ether.fi (ETHFI) shows the steepest decline. The token dropped 94.53% from its all-time high and has erased all gains accumulated since March 2024. Its price has shown sustained and intense selling pressure, along with multiple failed recovery attempts. As with the other assets, technical indicators remain at extreme levels, with no clear changes in the trend structure.
Hayes Did Not Execute Further Transactions
Hayes’ sales took place while all three assets remained in negative territory and within oversold zones. Following the transactions, market commentary emerged around the timing of the liquidations, although no subsequent transactions involving the released capital or new positions were reported.
Hayes often rotates positions within his portfolio, at times moving into stablecoins, but in this case no alternative destinations were disclosed. The activity was limited to the exit from the DeFi tokens mentioned above
