Ethereum News Today: Arthur Hayes Repurchases $10.5M in ETH Amid 50% Price Surge

Arthur Hayes, co-founder of the now-defunct crypto exchange BitMEX, has repurchased 2,373 ETH at a cost of $10.5 million, reversing a sale he had made just a week earlier for $8.32 million. This move, which represents a significant premium, has been interpreted as a public demonstration of renewed confidence in Ethereum. Posting on social media, Hayes humorously admitted to flawed timing in his earlier trade and pledged not to take profits on his Ethereum holdings in the future, stating, “I pinky swear, I’ll never take profit again.” The transaction and his accompanying public commitment have generated considerable attention within the crypto community and contributed to a 50% price surge in Ethereum, alongside the liquidation of $105 million in short positions [1].

The buyback has also drawn attention for its broader market implications. According to on-chain analytics firm Lookonchain, institutional investors have accumulated over 1.035 million ETH, reinforcing Ethereum’s long-term demand and signaling continued interest from large market participants. While Hayes’ trade may appear strategically insignificant in the short term, his public stance has amplified bullish sentiment and contributed to increased market volatility. The crypto space has long been influenced by the actions and declarations of high-profile figures, and Hayes’ move aligns with this trend.

Hayes’ behavior is not new; throughout his career, he has used public platforms to blend self-awareness with market commentary. His recent trade and statement reflect a broader narrative in the crypto industry, where sentiment and personality often play as crucial a role as traditional market analysis. As the sector continues to evolve under macroeconomic and regulatory pressures, individual actions—such as Hayes’ pledge—can have outsized effects on market psychology and behavior.

The impact of such actions remains to be seen in the long term. While Hayes’ decision may serve as a symbolic gesture of confidence in Ethereum, its actual effect on the asset’s fundamentals is yet to be determined. What is clear, however, is the power of individual influence in a market where public sentiment can rapidly shape price movements and trader behavior.

Source:

[1] AInvest - [https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-mocks-poor-eth-trading-timing-thomas-lee-hails-16-000-potential-2508/](https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-mocks-poor-eth-trading-timing-thomas-lee-hails-16-000-potential-2508/)