Arthur Hayes Does It Again: Buys ETH High, Sells It Low
One of the most recognizable and well-known figures in the cryptocurrency space has displayed a somewhat controversial approach to his Ethereum investments over the past few months.
The most recent data shared by Lookonchain doubled down on his sporadic approach, as he had realized another loss.
The analytics resource informed that the former BitMEX CEO deposited nearly 2,365 ETH into Cumberland and Galaxy Digital earlier today, and received 4.3 million USDC in return.
According to the analysts, this meant that his selling price was at $1,821 given the asset’s retreat over the past few days from a multi-month peak of $1,980.
Hayes secured a sizeable loss of $241,000 (or 5.3%) on this trade because he went on an accumulation spree during the aforementioned ascent from ETH. As previously reported, he bought 7,213 ETH for $13.87 million at an average price of $1,923.
Arthur Hayes(@CryptoHayes) bought high and sold low again!
Over the past 2 hours, he deposited 2,364.38 $ETH into Cumberland and Galaxy Digital, receiving 4.3M $USDC in return.
… Continue reading the full article at the original source below.
