Arthur Hayes Moves ETH to Binance, Possible Sale

Arthur Hayes, former CEO of BitMEX, transferred 680 ETH worth $2.03 million to Binance and Flowdesk for potential sale, according to Onchain Lens, on December 20.

Market observers interpret these transfers as potential sell-side activity, possibly impacting Ethereum prices and related ecosystem tokens amid ongoing macroeconomic assessments.

Arthur Hayes Transfers 680 ETH Amid Market Speculation

Arthur Hayes, co-founder and previous CEO of BitMEX, has moved 680 ETH to Binance and Flowdesk, suggesting a potential sale. This action is consistent with prior transactions where Hayes sent significant ETH and other tokens to institutional entities.

The movement of ETH from Hayes’ wallets aligns with previous patterns that suggest sale or portfolio rebalancing. On-chain trackers label these as sell-side flows, prompting speculation about immediate impacts on Ethereum’s market positioning.

“Ethereum could reach $20,000,” said Arthur Hayes, Co-founder and former CEO of BitMEX, speculating that ETH might be the default institutional settlement layer.

Ethereum Price Response to High-Profile Transactions

Did you know? Hayes’ move of 680 ETH is part of a historical pattern. Previously, his transactions have influenced market perceptions, leading to temporary fluctuations in Ethereum’s price.

According to CoinMarketCap, Ethereum’s current price stands at $2,982.59 with a market cap of $359.98 billion. Having a 24-hour trading volume of $22.17 billion, it shows a slight price raise of 2.09% in the past day. Although market dominance hovers at 12.07%, Ethereum has seen a 33.3% decline over the past 90 days, indicating volatility.

The Coincu research team notes that these transactions, while routine for a trader like Hayes, may influence Ethereum’s liquidity and trader sentiment. Such moves often attract market attention given Hayes’ reputation as a high-signal investor, influencing both regulatory scrutiny and trading strategies in the short-term.