Ethereum Updates: Arthur Hayes Sells $2.45M ETH/DeFi Holdings, Indicating Negative Market Sentiment

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Ethereum Updates: Arthur Hayes Sells $2.45M ETH/DeFi Holdings, Indicating Negative Market Sentiment

Bitget-RWA2025/11/16 04:22

By:Bitget-RWA

- Arthur Hayes sold $2.45M in Ethereum and DeFi tokens, including 260 ETH and 2.4M ENA, signaling potential bearish sentiment. - Blockchain analysts highlight risks of price dips as large ETH sales often trigger short-term market declines, with $3,000 support levels under scrutiny. - Simultaneous offloading of AAVE, UNI, and LDO tokens suggests profit-taking amid rising traditional finance rates and DeFi liquidity shifts. - Zcash (ZEC) whale activity and leveraged ETH short positions further amplify crypto

Arthur Hayes, previously the CEO of BitMEX and a well-known personality in the crypto industry, has recently made headlines by offloading a substantial amount of

Ethereum

and DeFi tokens, attracting the attention of blockchain analysts and market participants.

Data provided by @lookonchain and @OnchainLens

shows that Hayes sold assets worth over $2.45 million, which included 260 ETH (valued at $820,000), 2.4 million

ENA

tokens ($651,000), 640,000

LDO

tokens ($480,000), 1,630

AAVE

tokens ($289,000), and 28,670

UNI

tokens ($209,000). These transactions, which were highlighted on X on November 16, 2025, were

described as "heavy dumping"

by the analytics company Lookonchain, hinting at a possible bearish outlook for the market.

By selling 260 ETH at an average price of $3,153 per coin, Hayes may be expressing doubt about Ethereum’s near-term price movement.

Ethereum Updates: Arthur Hayes Sells $2.45M ETH/DeFi Holdings, Indicating Negative Market Sentiment image 0

Past events indicate

that significant ETH sales by major players often lead to short-lived price drops, so traders are now watching the $3,000 support level closely. The overall market effect is intensified by the concurrent sale of DeFi tokens such as ENA and LDO, which are associated with platforms like

Ethena

and Lido. For example,

the sale of 2.4 million ENA tokens

at roughly $0.271 each could put additional downward pressure on the token, especially if other large holders decide to sell as well.

This development has also led to renewed scrutiny of the market behavior of Aave (AAVE) and Uniswap (UNI).

Hayes’ sale of 1,630 AAVE tokens

and 28,670 UNI tokens might reflect a strategy to secure profits as higher interest rates in traditional finance draw capital away from DeFi.

Blockchain data from sources like Nansen AI

shows that these assets were transferred to Cumberland, a digital asset trading company, which increases the likelihood of immediate market consequences.

Although Hayes’ recent activity has focused on Ethereum and DeFi tokens, broader trends in the crypto sector are also relevant. For instance,

Zcash (ZEC) has experienced its own large-scale trades

, with a $25 million short position on Hyperliquid reducing unrealized losses from $20 million to $6.5 million as the price rose to $453. In another case,

a $27 million ETH short

opened at $4,094 is currently showing $5.5 million in unrealized gains, illustrating the mix of bearish and bullish tactics among major crypto investors.

The interaction of these sizable trades highlights the volatility and interconnected nature of digital asset markets. Hayes’ sales, combined with leveraged ZEC positions, could intensify liquidity changes, especially if cascading liquidations occur due to leveraged shorts.

Market participants should keep an eye on

on-chain indicators like the Fear and Greed Index and RSI to assess sentiment and watch for possible trend reversals.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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