Arthur Hayes Bets Even Bigger on Ethereum as $4K Calls Grow Louder

The co-founder of BitMEX, which recently announced its upcoming closure, continues with his substantial Ethereum purchases as the asset has suddenly become a fan favorite.

ETH has gained momentum over the past few weeks, trading close to $2,000 for the first time in months. Naturally, big price predictions have started to reemerge.

Hayes Adds More

Arthur Hayes has demonstrated a slightly controversial behavior toward the largest altcoin in the past month or so. As reported just a few weeks ago, he disposed of his entire stash for more than $10 million at average prices of under $1,700. The problem was that he accumulated this fortune at prices of over $1,900.

Once the cryptocurrency rebounded and flew past $1,900 later in the month, Hayes started to reaccumulate. Data from Lookonchain shows that he has spent roughly $7.5 million since July 15 to purchase a total of 3,915 ETH.

The latest buy came hours ago, in which he splashed $1.2 million to add 645 tokens to his stash. Interestingly, his average accumulation price is still just over $1,900 per ETH.

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