BitMEX’s Former CEO Arthur Hayes Bought This Altcoin Instead of ATH Coins He Sold at a Loss! Here Are the Details

Former BitMEX CEO and prominent crypto investor Arthur Hayes made a significant move in the market by shifting his focus to ENA after selling ATH at a loss earlier today.

Arthur Hayes Invests Big in ENA After Selling ATH at a Loss

According to blockchain data, Hayes spent 874.9 ETH (approximately $2.8 million) to purchase 4.916 million ENA tokens through Wintermute Trading.

The purchase comes as ENA’s price has fallen by around 15% in the past 24 hours, leading to speculation that Hayes may be trying to capitalize on a potential recovery.

The strategic shift has caught the attention of the crypto community, with discussions emerging over whether Hayes is trying to “catch the bottom” on ENA. The token has seen increased trading activity, but recent price fluctuations suggest uncertainty among investors.

Hayes’ move reflects his typically high-risk, high-reward investment strategy, as his big investments often signal confidence in a project’s long-term potential.

While Hayes’ purchase may instill confidence in other investors, ENA’s direction remains uncertain. The market will likely keep a close eye on any new moves by Hayes or developments surrounding the token.

This latest development highlights the volatility of the cryptocurrency market and the influential role that major players like Hayes can have on developing projects.

*This is not investment advice.