BitMEX co-founder Arthur Hayes has accumulated 7,213 ETH at a total cost of $13.87 million, averaging approximately $1,923 per ETH. On July 28, he made his largest single purchase of 3,298 ETH worth $6.39 million through over-the-counter trades routed via Galaxy Digital, FalconX, and Cumberland. On the same day, Ethereum’s price dropped from $1,960 to $1,872, a 4.5% decline attributed to macro concerns surrounding the FOMC meeting and not to Hayes’s selling. On-chain data confirms his OTC transactions did not create sell pressure on the open market, with his position currently showing an unrealized loss of approximately $368,000. The key technical level to watch stands at $1,900, where consolidation would confirm Hayes’s bullish thesis.
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