Arthur Hayes, co-founder of the BitMEX exchange, continued the systematic withdrawal of Ethereum from his wallet to trading platforms in December. This activity is interpreted by market analysts as a deliberate sale of the asset. The investor's actions fully align with his previously stated plan to restructure his investment portfolio.
Against the backdrop of these transactions, Hayes' asset structure has undergone significant changes. Currently, his capital is predominantly concentrated in stablecoins, while the share of Ethereum has significantly decreased.
The scale of asset realization and the purchase of DeFi tokens
According to a report from Lookonchain, Arthur Hayes transferred an additional 682 ETH to the Binance exchange. The value of this transaction was approximately $2 million. The received funds were directed towards the purchase of tokens in the decentralized finance sector.
Previously, transfers of 508.6 ETH (approximately $1.5 million) were recorded in favor of Galaxy Digital. In total, over the past week, Hayes has sold about 1871 ETH for a total of $5.53 million. The proceeds have been distributed among assets such as ENA, PENDLE, and ETHFI.
An analysis of the market performance of these tokens shows a significant decline — from 80% to 90% since the beginning of this year. It is evident that the investor is taking advantage of the current low price levels in anticipation of high returns in the long term. Previously, Hayes publicly confirmed this strategy on the social network X.
“We are reallocating capital from Ethereum to quality projects in the DeFi sector. In our opinion, these assets will show leading dynamics as the liquidity situation of fiat money improves,” he stated.
Structural changes in the investor's portfolio
A detailed examination of the wallet structure through the analytical platform Arkham confirms a large shift in strategy. The amount of Ethereum held has been steadily decreasing since 2022, when it was 16,000 ETH. Since November of this year, the balance has decreased from 6500 ETH to 3160 ETH. Thus, over a short period, more than 3440 ETH has been realized.
At the same time, of the total portfolio valued at $74 million, nearly $48 million is held in the USDC stablecoin. Currently, digital dollar equivalents account for over 60% of the total value of all investor assets.
Arkham data indicates that Hayes has increased his USDC holdings from $1 million to nearly $48 million since mid-November. This period coincided with a rise in pessimistic sentiment in the market. Generally, an increase in the share of stablecoins indicates either readiness to buy assets at further price declines or a transition to a cautious wait-and-see position.
Notably, Arthur Hayes previously made extremely optimistic forecasts for the second cryptocurrency. He claimed that the asset's price could reach $20,000, and owning 50 ETH would allow one to become a dollar millionaire by the time of the next presidential elections in the USA. However, the investor's current actions indicate a temporary priority on diversification and liquidity accumulation.
