Arthur Hayes is selling a large amount of Ethereum and altcoins.

Recently, there has been significant volatility in the cryptocurrency markets. Arthur Hayes, co-founder of BitMEX, has drawn attention with his large sales in the past two days. In particular, the sales of Ethereum (ETH) and various altcoins have intrigued investors. According to data from on-chain tracking platforms, the Ethereum assets leaving Hayes’ wallets have increased selling pressure in the markets.

In the last 48 hours, Hayes has executed sales of approximately 1,480 Ethereum, worth about 4.7 million dollars. A similar situation occurred back in August; during that time, Hayes sold at dip prices and only nine days later had to buy back Ethereum at a higher price. This has sparked new discussions in the investor community about Hayes’ success rate concerning Ethereum transactions.

The assets Hayes sold are not limited to Ethereum. According to data, Hayes has recently sold around 2.4 million ENA, 640,000 LDO, 1,630 AAVE, and 28,670 UNI. The total value of these sales is estimated to be around 2.4 million dollars. Additionally, Hayes’ holdings of 520 Ethereum, 2.62 million ENA, and 132,000 ETHFI have been transferred to institutional market makers like Flowdesk, FalconX, and Wintermute. These transfers are believed to be for sales purposes.

Furthermore, Chinese on-chain trackers have suggested that Hayes may be making these sales to increase his position in Zcash (ZEC). Hayes' recent positive comments about Zcash strengthen the claims that the changes in his portfolio have accelerated in this direction. Although Hayes’ aggressive sales moves in Ethereum and altcoins seem likely to put pressure on the market in the short term, significant wallet movements remain important for investors. In the crypto world, investors will need to closely monitor the steps taken during this process.