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It has been claimed that BitMEX co-founder Arthur Hayes sold a significant portion of his Ethereum (ETH) holdings following a nearly 3% drop in price. According to on-chain data, Hayes had purchased a total of 3,298 ETH through OTC transactions over the past two weeks at an average price of $1,916. However, an address believed to belong to Hayes transferred 2,364 ETH to addresses linked to Cumberland and Galaxy Digital approximately two hours ago. Following these transfers, 4.30 million USDC was sent to Hayes’ wallet. The transaction flow suggested that the transferred Ethereum was most likely sold. Assuming Hayes sold 2,364 ETH, the transaction is estimated to have resulted in a loss of approximately $220,000. Related News: Coinbase's Bitcoin Premium Index Has Been Negative for 75 Days: A Record Has Been Broken—What Does This Mean? In addition, on-chain data revealed that Arthur Hayes recently sold $658,000 worth of SYN and $248,000 worth of ENA. BitMEX, the cryptocurrency exchange founded by Hayes, recently announced its decision to permanently close down. *This is not investment advice. Continue Reading: Arthur Hayes Sold a Large Amount of Ethereum and Two Altcoins