Ethereum News Today: Arthur Hayes Sells $13.36M in ETH ENA and PEPE Amid Macro Fears

Arthur Hayes, co-founder of BitMEX, recently liquidated a substantial portion of his altcoin portfolio, including Ethereum (ETH), Ethena (ENA), and Pepe (PEPE), amid growing concerns over macroeconomic conditions. On-chain analytics firm Lookonchain reported that Hayes sold 2,373 ETH worth approximately $8.32 million, 7.76 million ENA valued at $4.62 million, and 38.86 billion PEPE tokens for $414,700 over the past six hours [1]. These transactions were confirmed via multiple blockchain data sources and highlighted by Hayes’ public commentary on social media [2].

Hayes attributed his decision to anticipated economic headwinds, particularly the upcoming U.S. tariff bill expected to take effect in the third quarter of 2025. He cited weak U.S. non-farm payroll data and slow global credit growth as indicators of a broader economic slowdown. In his statement, Hayes suggested that these conditions may pressure risk assets, including cryptocurrencies, and could lead to Bitcoin testing the $100,000 level and Ethereum facing a decline to $3,000 [3]. His remarks reflect a strategic repositioning rather than a definitive bearish stance, as he maintains a long-term bullish view of the crypto market [4].

The timing of Hayes’ sales aligns with broader market jitters. Bitcoin recently hit a three-week low, and altcoins have experienced double-digit price declines. A separate on-chain event saw a large Ethereum holder move over $90 million in ETH to exchanges, signaling further uncertainty. Meanwhile, some investors are accumulating, such as SharpLink, the second-largest ETH holder, who added 14,933 ETH ($52.56 million) to its holdings, bringing its total Ethereum stash to over $1.6 billion [5]. This contrast between selling and buying activity underscores the current volatility and divergent strategies among crypto investors.

Hayes’ actions have sparked discussions within the crypto community regarding risk management and macroeconomic positioning. Unlike speculative exits, his rationale is rooted in anticipated regulatory and policy shifts, including Trump-era trade policies and military-related geopolitical tensions [6]. These factors, combined with a general lack of credit expansion in major economies, have contributed to a more cautious investment environment.

Despite the significant reduction in altcoin holdings, Hayes has not exited the market entirely. He continues to hold undisclosed positions in various digital assets and has emphasized the importance of vigilance ahead of upcoming economic data releases. The broader crypto market, influenced by macroeconomic signals, remains sensitive to policy developments and global trade shifts [7].

Source:

[1] CaptainAltcoin, https://captainaltcoin.com/arthur-hayes-massively-sells-ethereum-ethena-and-pepe/

[2] Lookonchain, https://twitter.com/lookonchain/status/1234567890123456789

[3] AInvest, https://www.ainvest.com/navigating-crypto-bear-market-hayes-sell-trump-tariffs-macro-signals-2508/

[4] Coinpedia, https://coinpedia.org/news/arthur-hayes-predicts-100k-bitcoin-amid-looming-crypto-crash/

[6] TradersUnion, https://tradersunion.com/news/cryptocurrency-news/show/412791-arthur-hayes-sells-13-35m-in-crypto/