• Arthur Hayes also reduced positions in major DeFi tokens, including ENA, LDO, AAVE, UNI, and ETHFi, according to Akram Intelligence data. 
• Hayes’ current ETH holdings are valued at $16.11 million with an unrealized gain of 0.94%.
• Lookonchain noted Hayes’ activity reflected active selling, not merely portfolio reallocation.

Arthur Hayes, co-founder and former CEO of BitMEX, offloaded nearly 1,500 Ethereum (ETH) over the weekend, according to on-chain analysis.

According to data from Akham Intelligence, Hayes’ ETH stash dipped to around 5,000 ETH from 6,500 ETH between November 15 to November 17. His current Ethereum holdings are valued at $16.11 million and unrealised profit of 0.94%. 

Data showed that, in addition to Ethereum, Hayes also reduced his positions in several other tokens, including Enzyme (ENA), Lido (LDO), Aave (AAVE), Uniswap (UNI), and ETHFi (ETHFI). 

According to Lookonchain, Hayes has been selling his stake, not just relocating it. In a post on X, the firm noted that the last time Hayes sold Ethereum was on August 1, when the token’s price was near market lows. It added that he bought it back just nine days later at a higher price.

Ethereum’s price rebounded in early morning trade on Monday, up more than 1% in the last 24 hours. On Stocktwits, however, retail sentiment continued to trend in ‘bearish’ territory with chatter at ‘normal’ levels over the past day.

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Read also: Bitcoin Price Struggles While Crypto Liquidations Top $500 Million – Analyst Flags Retail Pressure

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