20.09.2025 00:26

Based on information circulating online, Arthur Hayes, the individual who established the BitMEX cryptocurrency exchange, has executed a substantial transfer of ETHFI tokens, prompting inquiries into potential over-the-counter (OTC) sales.

Details gleaned from the on-chain analytics platform Arkham indicate that Hayes orchestrated two noteworthy transactions recently. Initially, he moved 136,600 ETHFI to Galaxy Digital, receiving around 221,000 USDC in exchange. Subsequently, a larger sum of 1.08 million ETHFI was dispatched to an address (0xab…9532) with suspected ties to Flowdesk; this transaction is valued at approximately $1.67 million.

The preference for OTC transactions within the cryptocurrency sphere generally stems from their ability to facilitate large-scale transfers without directly impacting exchange order books, thereby mitigating price volatility. Nevertheless, the considerable scale of Hayes' sales has garnered the attention of investors, potentially exerting downward pressure on the price of ETHFI.

Hayes' prior market insights and investment activities have frequently placed him in the cryptocurrency market's spotlight, and this recent activity has sparked renewed conjecture regarding his market maneuvering. Analysts caution that increased reliance on OTC sales, particularly for nascent projects, could strain token liquidity and challenge market confidence. Concerns have arisen among ETHFI investors regarding possible short-term price instability due to Hayes' transactions.