Arthur Hayes Continues Ethereum Exit With Fresh $2 Million DeFi Token Buying Spree

• Arthur Hayes added over $2 million in DeFi tokens on Tuesday night while continuing to sell Ethereum.
• Pendle has become his largest DeFi position following the strategy shift.
• Price performance across Hayes’ DeFi picks was mixed on the day.

Arthur Hayes, chief investment officer and co-founder of Maelstrom, added more than $2 million worth of decentralized finance (DeFi) tokens to his portfolio on Tuesday as he continued to get rid of his Ethereum (ETH) stockpile.

According to Arkham Intelligence data, Hayes added to positions in Ethena (ENA), Pendle (PENDLE), Ether.fi (ETHFI), and Lido DAO (LDO) on Tuesday night. The largest single purchase was Ether.fi, with roughly $250,000 worth of ETHFI tokens acquired, followed by LDO purchases totaling about $260,000. Hayes also bought approximately $515,000 worth of PENDLE and close to $1 million in ENA.

Since shifting strategy earlier this month, Hayes has sold off over $5.5 million of Ethereum (ETH) in two weeks, according to Lookonchain. Pendle has emerged as Hayes’ largest accumulation, with holdings valued at roughly $1.75 million. Lido DAO follows at about $1.29 million, with Ethena near $1.24 million and Ether.fi at roughly $343,000.

Ethereum’s price edged 0.4% in the last 24 hours, trading below the $3,000 mark. On Stocktwits, retail sentiment around the leading altcoin, however, improved to ‘bearish’ from ‘extremely bearish’ territory over the past day.

Hayes’ Tokens Show Mixed Performance

Hayes’ new portfolio tokens showed mixed performance on Tuesday night. PENDLE’s price rose 2.7% in the last 24 hours to around $1.92, outperforming the rest. Retail sentiment around the token on Stocktwits remained in ‘bullish’ territory over the past day, even as chatter dipped to ‘normal’ from ‘high’ levels. 

LDO’s price was also in the green, edging 0.2% higher in the last 24 hours to around $0.5893. The token saw retail sentiment trending in ‘bullish’ territory over the past day, with chatter at ‘normal’ levels.

Ethena lagged with ENA’s price falling 1.6% in the last 24 hours to around $0.20. On Stocktwits, retail sentiment around the altcoin rose to ‘bullish’ from ‘neutral’ territory over the past day, while chatter remained at ‘low’ levels.

ETHFI’s price was also in the red, edging 0.7% lower in the last 24 hours to around $0.696. Retail sentiment around the token remained in the ‘bullish’ zone with chatter at ‘high’ levels over the past day.

Read also: IPW’s Stock Gains, BMNR Adds To Ethereum Position While Crypto Equities Tread Water

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on