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BitMEX co-founder Arthur Hayes transferred $2.5 million value of Ethereum and ecosystem tokens to institutional market makers together with Flowdesk, FalconX, and Wintermute.
Blockchain analyst EmberCN reported the strikes and questioned whether or not Hayes is promoting belongings so as to add to his Zcash place.
Hayes has been vocal about his ZEC (ZEC) holdings through the current privateness coin rally. On November 15, he posted, “This chart is simply so sturdy I aped extra. $ZEC” on X and prompt that he elevated his place after the token’s 700% surge since October.
Arthur Hayes transfers ETH and ecosystem tokens value $2.5M
EmberCN tracked a number of transfers from Hayes’ pockets to institutional buying and selling platforms. The BitMEX co-founder moved 520 ETH (ETH) value $1.66 million, 2.624 million ENA (ENA) tokens valued at $730,000, and 132,000 ETHFI value $120,000 to the market makers.
Hayes additionally examined a switch of 10 LDO (LDO) tokens to FalconX about 50 minutes after the preliminary transactions. EmberCN famous that Hayes “ought to proceed promoting LDO quickly.”
In accordance with follow-up studies, Hayes offered 260 ETH value round $820,000, 2.40 million ENA tokens at $657,000, 640,000 LDO at $480,000, 1,630 AAVE (AAVE) at $290,000, and 28,670 UNI (UNI) at $211,000. The entire worth of those gross sales reached roughly $2.45 million.
The analyst questioned whether or not Hayes is changing these belongings into Zcash. “Is that this promoting cash so as to add to $ZEC? He’s been crazily pumping ZEC throughout this era,” EmberCN wrote.
Maelstrom CIO calls ZEC superior to XRP
Hayes has made a number of bullish statements about Zcash in current weeks. He declared “ZEC > XRP,” suggesting Zcash might surpass Ripple in market capitalization.
The Maelstrom Fund CIO predicted Zcash might attain between $10,000 and $20,000 per coin. He focused a ZEC/BTC pair worth of 0.2, which might translate to roughly $19,200 for ZEC.
Hayes revealed that Zcash has develop into Maelstrom’s second-largest liquid holding after Bitcoin. He described Zcash as “Bitcoin with full privateness” and prompt ZEC might attain 10% to twenty% of Bitcoin’s worth within the present market cycle.
In mid-November, Hayes urged ZEC holders to withdraw tokens from centralized exchanges. “In case you maintain $ZEC on a CEX, withdraw it to a self-custodial pockets and protect it,” he posted.
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