The previous CEO of BitMEX, a major player in the derivatives market, has been actively trading and made several large purchases recently. However, his most recent buy has caught the attention of people in the crypto world.
This happened right before a large amount of the token was purchased, causing its price to increase significantly – by more than 10%.
Did He Know?
According to data from Lookonchain, Arthur Hayes recently received over 132,000 ETHFI tokens from Anchorage Digital, purchasing them at $0.55 each. Soon after, the cryptocurrency was listed on Upbit, a major exchange in South Korea, and became available for trading with the Korean won.
When similar listings appear from this major Asian exchange, the price of the related cryptocurrency almost always goes up quickly. For instance, the price of ICP jumped more than 16% just last week after a similar listing.
ETHFI, a smaller cryptocurrency, also saw a significant price increase, jumping from $0.54 to $0.64 shortly after the recent announcement – an 18% rise. However, the increase didn’t last, and the price quickly fell back down, likely due to the broader market downturn today, erasing most of the gains.
While some commenters wondered if Hayes had advance information, the ETHFI he currently holds is a small amount compared to his previous sale – just $72.8K now, versus $2.15 million last month.
It’s noteworthy that just five hours after Arthur Hayes purchased ETHFI, Upbit announced it would list the token.
— Lookonchain (@lookonchain) March 19, 2026
Previous Sell-Offs
In February, shortly after the cryptocurrency market dropped, CryptoPotato noted that Arthur Hayes sold off a significant amount of tokens related to decentralized finance (DeFi), including ETHFI. He sold $950,000 worth of ETHFI, as well as $1 million of ENA and $1.1 million of PENDLE.
Last August, Hayes predicted Ethereum’s price would fall and even sold some of his holdings. However, the price actually increased significantly in the following weeks. Hayes admitted he had to buy back in at a higher price and apologized to the Ethereum community for his inaccurate prediction.
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2026-03-19 11:00