Arthur Hayes Buys More Aethir, ATH Price May Rally to $1?

BitMEX co-founder Arthur Hayes has once again made global headlines with a remarkable shift in his trading strategies. As per on-chain data, the co-founder heavily accumulated Aethir (ATH), shifting his focus from PENDLE. This strategic mover has echoed optimism for ATH price ahead, whilst it’s also worth noting that the coin is up 19% in the past week.

BitMEX Co-founder Arthur Hayes Projects Optimism On Aethir (ATH)

According to on-chain transaction data streamlined by Spotonchain on September 24, Arthur Hayes accumulated 30.89 million ATH, worth $1.92 million, from the CEX Bybit. Notably, this accumulation by the wallet address ‘0xa86’ is the co-founder’s largest single ATH accumulation to date.

Per the data, Hayes withdrew a whopping 47.37 million ATH, worth $2.94 million, from the top crypto exchanges Bybit, OKX, and KuCoin over the past two days. These accumulations have added the BitMEX founder’s Aethir holdings to a total of 93.15 million coins, worth $5.97 million. The massive holding indicates a strong sense of confidence in the asset’s potential to offer gains in the future.

Meanwhile, it’s also worth noting that these accumulations portray Arther Hayes’ shift of focus from the token PENDLE amid recent market trends. CoinGape Media previously reported that Arthur Hayes sold PENDLE to sack ATH, diversifying his portfolio amid Aethir’s recent rise and concerns orbiting PENDLE’s future performance.

How Are ATH & PENDLE Performing?

Intriguingly, ATH price today witnessed a pullback, slipping nearly 4% in the past 24 hours to $0.06374. The coin’s intraday low and high were recorded as $0.06114 and $0.06774, respectively. Nevertheless, the token’s weekly chart illustrated gains worth 19%.

On the other hand, PENDLE price today gained roughly 6% to $4.19. Its intraday low and high were $3.86 and $4.13, respectively. Notably, PENDLE’s weekly charts showcase gains worth 25%. These price movements, collectively, have sparked converse speculations among market watchers.

While Arthur Hayes’ ATH accumulations glimmer optimism for the coin’s price action ahead, PENDLE price also seems to be on a considerable upside movement. This chronicle has added a layer of intrigue to the BitMEX co-founder’s shift in trading strategies. Crypto market enthusiasts speculate whether ATH price can reach $1 ahead as the massive accumulation ignites hope for future price movements.

Besides, Coinglass data illustrated that ATH Futures OI bounced back up as the worst month for risk assets, September, comes to a close. As of writing, the futures OI rested at $27 million. This data has further weighed the scale towards the bullish side for Aethir’s future price movements alongside Arthur Hayes’ buying spree.

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Coingape Staff

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.