Arthur Hayes, co-founder of BitMEX, showcased his latest move by selling his holdings in PENDLE, ENA, and LDO to purchase the Hyperliquid (HYPE) token. On-chain data reveals that within the last 24 hours, Hayes invested over $1.91 million, increasing his total position in HYPE to more than $4.3 million amidst a broader market correction.
https://twitter.com/lookonchain/status/2019057178573742292
This operation highlights a tactical adjustment in Arthur Hayes’ crypto strategy. The executive seeks to capitalize on the growth of new decentralized protocols while maintaining a defensive stance. Despite the acquisitions, Hayes retains a $43 million portfolio where liquidity predominates, with $21.72 million held in the USDC stablecoin and significant exposure to Ethereum.
Moving forward, the market will be watchful to see if this rotation anticipates a recovery in infrastructure tokens or if Hayes will continue liquidating older positions to strengthen his bet on HYPE. Analysts suggest paying close attention to the support levels of his primary assets to determine if this institutional wealth redistribution signals a trend reversal for altcoins.
Source:https://x.com/lookonchain/status/2019057178573742292
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