Former BitMEX CEO Arthur Hayes has booked another loss on Ethereum, on-chain data suggested. He sold nearly 2,365 ETH at $1,821, realizing a $241,000 loss on ETH he had accumulated at an average price of $1,923 during Ethereum's earlier climb.
Arthur Hayes has bought ETH high and sold it low again, according to on-chain data shared by Lookonchain. The former BitMEX CEO deposited nearly 2,365 ETH into Cumberland and Galaxy Digital, receiving 4.3 million USDC in return.
Analysts calculated his selling price at $1,821, reflecting Ethereum's retreat over the past few days from a multi-month peak of $1,980. That exit price left Hayes with a $241,000 loss, or 5.3%, on the position.
The loss stems from an accumulation spree during Ethereum's earlier climb. Hayes had bought 7,213 ETH for $13.87 million at an average price of $1,923, buying into the ascent rather than after it.
This is not the first time Hayes has bought high and sold low on Ethereum. His previous major ETH trade came several weeks earlier, when he accumulated at prices well over $1,900 again after the token jumped to $1,950.
Source: CryptoPotato
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