{"id":159097,"date":"2023-12-21T13:01:57","date_gmt":"2023-12-21T13:01:57","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=159097"},"modified":"2023-12-21T13:02:21","modified_gmt":"2023-12-21T13:02:21","slug":"arthur-hayes-sends-18m-looks-tokens-to-okx-are-we-facing-a-massive-sell-off","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/arthur-hayes-sends-18m-looks-tokens-to-okx-are-we-facing-a-massive-sell-off\/","title":{"rendered":"Arthur Hayes Sends 18M LOOKS Tokens to OKX. Are We Facing a Massive Sell-Off?"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Arthur Hayes, renowned as the co-founder of BitMEX, has recently made a significant deposit of 18.1 million LOOKS tokens into the <a href=\"https:\/\/crypto-economy.com\/cryptocurrency-exchange\/\" target=\"_blank\" rel=\"noopener\">exchange<\/a> OKX,<\/strong> as reported by Lookonchain. This transaction, executed on December 21, has garnered substantial attention within the crypto community.<!--more--><\/p>\n<p style=\"text-align: justify\">It is noteworthy that <strong>Hayes had previously acquired 15.5 million tokens between June 3 and November 3, 2022<\/strong>, making purchases on both Uniswap and FTX. The average price of these acquisitions stood <strong>at <a href=\"https:\/\/coinmarketcap.com\/currencies\/looksrare\/\" target=\"_blank\" rel=\"noopener\">$0.29 per token<\/a><\/strong>. Lookonchain highlights that <strong>if Hayes were to decide to sell at this juncture, he would face a considerable loss, estimated at around $2.87 million, representing a 64% loss on his investment.<\/strong><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Arthur Hayes(<a href=\"https:\/\/twitter.com\/CryptoHayes?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@CryptoHayes<\/a>) deposited all 18.1M <a href=\"https:\/\/twitter.com\/search?q=%24LOOKS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$LOOKS<\/a>($1.63M) to <a href=\"https:\/\/twitter.com\/hashtag\/OKX?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#OKX<\/a> 2 hours ago. <\/p>\n<p>Arthur Hayes bought 15.5M <a href=\"https:\/\/twitter.com\/search?q=%24LOOKS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$LOOKS<\/a> ($4.5M) from <a href=\"https:\/\/twitter.com\/hashtag\/Uniswap?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Uniswap<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/FTX?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#FTX<\/a> at an average price of $0.29 from Jun 3 to Nov 3, 2022.<\/p>\n<p>If he sells, he will lose ~$2.87M(-64%)!<a href=\"https:\/\/t.co\/NyXir9fdDq\" target=\"_blank\">https:\/\/t.co\/NyXir9fdDq<\/a> <a href=\"https:\/\/t.co\/czwhoMhO7P\" target=\"_blank\">pic.twitter.com\/czwhoMhO7P<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1737692389840740556?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">December 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">This isn&#8217;t the first analysis of Hayes&#8217;s activities in the LOOKS market. In February of the previous year, Lookonchain provided details about his earlier purchases, recognizing him as<strong> the largest individual holder of LOOKS addresses<\/strong>, possessing 17 million tokens valued at $5.14 million at that time. <strong>Hayes&#8217;s prior acquisitions involved obtaining 10.68 million tokens using 1,786 <a href=\"https:\/\/crypto-economy.com\/what-is-ethereum\/\" target=\"_blank\" rel=\"noopener\">ETH<\/a> between August 24 and November 3, 2022<\/strong>, at an estimated cost of $2.76 million when the average price owas $0.258.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-76148\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2023\/12\/looks-post-1.jpg\" alt=\"arthur hayes looks post\" width=\"825\" height=\"300\" \/><\/p>\n<h2>If Hayes Sells His LOOKS Tokens, He Could Face Significant Losses<\/h2>\n<p style=\"text-align: justify\"><strong>The recent transfer by Hayes to OKX involves a value of $1.63 million for the deposited 18.1 million LOOKS tokens<\/strong>. Lookonchain projects that, should Hayes decide to sell his LOOKS on OKX, he would incur a substantial loss. This projection is derived by comparing the current price of LOOKS, which stands at $0.0902 according to TradingView, with the average price of Hayes&#8217;s prior acquisitions.<\/p>\n<p style=\"text-align: justify\">The token transfer to OKX has sparked various speculations about Hayes&#8217;s intentions. <strong>The transfer of assets to centralized exchanges is often interpreted as a strategic move to facilitate selling or exchanging for fiat or other assets<\/strong>. In the absence of updates regarding Hayes&#8217;s movements, we will continue to closely monitor the situation, paying attention to how his decisions regarding his LOOKS holdings evolve and how this could influence the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arthur Hayes, renowned as the co-founder of BitMEX, has recently made a significant deposit of 18.1 million LOOKS tokens into the exchange OKX, as reported by Lookonchain. This transaction, executed on December 21, has garnered substantial attention within the crypto community.<\/p>\n","protected":false},"author":34,"featured_media":159107,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,74],"tags":[4656,9826],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/159097"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=159097"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/159097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/159107"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=159097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=159097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=159097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}