Arthur Hayes, the founder of BitMEX and a prominent figure in the crypto world, has once again caught the attention of investors with his latest moves. Previously known for holding a significant amount of Pendle Finance (PENDLE), Hayes has recently sold off most of his holdings and directed his attention to a Binance Labs-backed project, Aethir (ATH). This shift signals a change in Hayes’ investment strategy, and many are wondering what’s next.
Major Sale: Hayes Sells Pendle (PENDLE)
On-chain data reveals that within the last 100 hours, Arthur Hayes sold 1.83 million Pendle tokens, a sale worth approximately $6.58 million. Given Hayes’ influence in the market, such a large transaction has sparked interest and speculation among traders. The sale caused a notable reaction in the market, leaving many wondering how Hayes will use the funds from this move.
It didn’t take long to find out. On-chain analysis platforms revealed that Hayes has shifted these funds into Aethir (ATH) tokens, leading many investors to turn their attention toward the new project.
Aethir (ATH): Hayes’ New Focus
Shortly after offloading his Pendle holdings, Hayes made a significant move by purchasing 93.15 million Aethir tokens, valued at nearly $6 million. The transactions took place across major exchanges such as OKX, Bybit, KuCoin, and HTX. The rapid increase in demand for Aethir tokens has sparked speculation about ATH’s future performance. While Hayes is currently holding these tokens at an average price of $0.0644, he faces an unrealized loss of about $168,000. However, considering Hayes’ long-term strategy, this short-term loss could eventually turn into profit.
What Does This Mean for Aethir?
Arthur Hayes’ pivot from Pendle to Aethir is generating widespread discussion. His exit from Pendle was particularly surprising since he had previously predicted a price surge to $10. Though Aethir is still a relatively unknown project in the crypto community, Hayes’ significant interest has brought it into the spotlight. Known for his strategic investment moves, Hayes’ focus on ATH is expected to drive more attention and possibly fuel future growth.
Aethir, which launched its decentralized cloud computing network on Ethereum in June, enables the contribution of idle GPU resources for various high-quality businesses. This network offers computing resources that can support AI models or deliver digital content at scale. Despite Hayes’ recent Pendle sale, Aethir’s price hasn’t been heavily impacted yet, with the token currently trading around $0.06.
Arthur Hayes, Pendle, Aethir, ATH, cryptocurrency
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