Arthur Hayes-linked wallet moved 8K ETH (~$19M) to major exchanges and Galaxy Digital, signaling potential ETH selling pressure.
Macro & Markets ·
An Arthur Hayes-linked wallet transferred 8,000 ETH—valued at approximately $19 million—across multiple destinations, with 1,600 ETH ($3.8 million) directed separately to each of Binance, Galaxy Digital, and FalconX, according to on-chain monitoring. The movements signal preparation for potential sales of the ether holdings.
The transfers follow Hayes's return to market activity after a nine-day absence. Beyond the ETH movements, the same wallet executed a broader set of token distributions, including 14 million ENA, 323,000 UNI, 3 million ZAMA, 1.89 million ETHFI, and 120,000 PENDLE sent to centralized exchanges and market makers. Concurrent with these outflows, Wintermute returned 2.426 million USDC to the address, suggested to represent proceeds from earlier token sales.
The exact timing and volume of ETH liquidation remain unconfirmed, as do the underlying motivations for the coordinated movement across multiple venues. Whether the transfers represent immediate selling pressure or staged positioning over time has not been disclosed.