BitMEX Founder Arthur Hayes Completed a Large Amount of This Altcoin Off-Exchange Transfer! Will He Sell? Here Are the Details

According to data shared by on-chain analytics platform Arkham, Arthur Hayes, founder of cryptocurrency exchange BitMEX, transferred a large amount of ETHFI. The transactions raised the possibility of over-the-counter (OTC) sales by market players.

Arthur Hayes’ ETHFI Sale Draws Market Attention

According to reports, Hayes made two significant transactions today. First, he transferred 136,600 ETHFI to Galaxy Digital and received approximately 221,000 USDC in return. He then sent 1.08 million ETHFI to the address 0xab…9532, which is suspiciously linked to Flowdesk. The market value of this transfer is reported to be approximately $1.67 million.

In the crypto market, OTC transactions are generally preferred for large-volume transfers because they are not directly reflected in the exchange order book, limiting price fluctuations. However, the sheer size of these sales is considered to have attracted investor attention and could put pressure on the ETHFI price.

Arthur Hayes has been frequently featured in the cryptocurrency market for his past market commentary and personal investments, and this latest transaction has sparked new speculation about his market strategies.

Experts warn that increased OTC sales could impact token liquidity, particularly for new projects, and test market confidence. Hayes’s move has raised concerns among ETHFI investors about short-term price fluctuations.

*This is not investment advice.

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