Arthur Hayes, the co-founder of crypto exchange BitMEX, has made a big return to buying Ethereum and popular DeFi tokens.
According to blockchain tracker Arkham Intelligence, Hayes bought about 1,750 ETH in the last two days, valued at around $7.45 million, as Ethereum trades close to $4,300 and looks to set a new all-time high.
His shopping spree didn’t stop there. Hayes also bought 425,000 Lido DAO (LDO) tokens worth roughly $557,000, 420,000 ETHFi tokens valued at $517,000, and 185,000 Pendle (PENDLE) tokens for about $1.01 million. These tokens are well-known in the DeFi space for offering staking rewards and yield farming opportunities, attracting many crypto investors.
The move comes just over a week after Hayes sold more than 2,300 ETH, worth around $8.3 million, along with large amounts of other coins like ENA and PEPE. In a post on X explaining that sell-off, Hayes said, “Y? US Tariff bill coming due in 3q … at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So $BTC tests $100k, $ETH tests $3k.”
But only days later, Hayes appeared to change his mind. In another post on X after buying the tokens back, he stated, “Had to buy it all back, do you forgive me @fundstrat?” and added, “I pinky swear, I’ll never take profit again,” hinting he may have exited the market too soon as Ethereum climbed past $4,300 to hit a new record.
Hayes’s purchases have sparked interest because such moves from high-profile traders often draw attention from other investors. While some believe it’s a sign of growing confidence in altcoins, others simply view it as a portfolio reshuffling.
At the time of writing, Ethereum was priced at $4,191 and had a market value of $509.31 billion, according to CoinMarketCap.
Tokens like LDO, ETHFi, and Pendle are still trending in the DeFi world. Many traders are keeping an eye on Hayes’s recent big purchases to see if they could start a new trend.
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