Arthur Hayes Allegedly Sold These Altcoin Shares: Did He Make a Profit or Loss?

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Allegedly, iconic crypto investor Arthur Hayes GMX It is stated that he sold his shares in . The move will effectively end Hayes’ more than two-year dominance as the largest owner in GMX.

According to data from Lookonchain, BitMEX founder Arthur Hayes disposed of 237,672.8 GMX tokens worth approximately $9.7 million. These tokens have reportedly been moved to Wintermute. Lookonchain said Hayes could earn up to $3.2 million for these offloaded tokens at a purchase price of $29.74. predicted.

According to other reports, Arthur Hayes may have suffered a $205,000 loss on the 41,000 GMXs sold recently. It was stated that Hayes sent these tokens to central exchanges (CEX) with a sales price of $ 40, while they were worth approximately $ 1.68 million. The perceived losses arose considering that the average purchase price of these tokens was $45.

Arthur Hayes is known as a trader with a rich history of profits and losses in crypto betting. According to previous reports, he made a profit of $1.45 million when he disposed of 500,000 PENDLE tokens in early February.

Following the recent offloading of GMX tokens, Arthur Hayes still owns a sizeable amount of crypto assets such as Ethereum (ETH), Arbitrum (ARB), and PENDLE.

Altcoin Season is All Here

With Bitcoin entering recovery mode after retesting the $70,000 price benchmark, altcoinMost of the ‘s have re-entered bullish zones to mark the re-emergence of the altcoin season. Despite Arthur Hayes offloading, GMX’s price remained resilient, rising 1.3% to $40.30. The token’s trading volume increased by over 380% to $49,567,411.

To reinforce the altcoin season thesis, tokens like Shiba Inu (SHIB) also saw many growth metrics jump to start the week on a rise.


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