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Arthur Hayes buys 3,298 ETH before 5% Ether drop

Arthur Hayes buys 3,298 ETH before 5% Ether drop

The BitMEX co-founder’s latest purchase extended his July 15 buying streak to 7,213 ETH worth $13.87 million, after he rebuilt a position he had exited at a loss in late June.

ETH

Fact Check
The Lookonchain on-chain tracker post directly confirms the 3,298 ETH purchase and the 7,213 ETH ($13.87M) cumulative total since July 15, exactly matching the claim. BeInCrypto and CryptoRank both corroborate the ~5% ETH price drop (from $1,960 to $1,872) occurring hours after the buy and the late-June exit at a loss. All quantitative figures in the claim align with these sources.
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Summary

Arthur Hayes bought 3,298 Ether worth $6.39 million a few hours before ETH fell about 5%, with the spot price sliding from $1,960 to $1,872. The purchase extended a buying streak that began on July 15 and brought his total accumulation to 7,213 ETH acquired for $13.87 million at an average price of $1,923 per token, leaving the position with an unrealized loss of roughly $368,000. Hayes built the stake through a series of over-the-counter trades, with onchain trackers flagging transfers to Galaxy Digital, FalconX and Cumberland since mid-July. The renewed buying followed a reversal: Hayes exited his ETH position in late June at a loss of about $606,000 before starting to buy back in as Ether recovered above $1,750. The move comes as broader crypto markets pull back ahead of the Federal Reserve’s policy decision, while some investors continue to make a longer-term institutional case for Ethereum tied to tokenization and network-based financial applications.

Terms & Concepts
  • over-the-counter trades: Transactions negotiated directly between parties rather than on a public exchange order book.
  • spot price: The current market price for immediate purchase or sale.
  • unrealized loss: A paper loss on an asset that has not been sold.