TLDR
- Arthur Hayes-linked wallet purchased 1,400 ETH worth approximately $2.5 million.
- The ETH purchase followed criticism over Hayes’ recent sales of HYPE, ZEC, NEAR, and WLD.
- ZEC fell more than 50% after Hayes’ sale became public before later recovering above $500.
- Whale wallet geministar.eth acquired $20 million in ETH, bringing two-day purchases to 32,278 ETH.
- Tom Lee-led Bitmine added another 20,000 ETH worth nearly $36 million through FalconX.
Arthur Hayes has returned to buying Ethereum after facing criticism for selling several tokens he had previously supported. On-chain data shows a wallet linked to the Maelstrom Fund executive acquired 1,400 ETH worth about $2.5 million. Meanwhile, other large investors and companies also expanded their Ethereum holdings during the latest buying activity.
Arthur Hayes Returns to Ethereum After Recent Token Sales
Lookonchain reported that a wallet connected to Arthur Hayes purchased 1,400 ETH earlier today. The transaction carried an estimated value of $2.5 million.
However, the purchase triggered mixed reactions across social media platforms. Several users questioned whether Hayes would keep the position for long.
Some commenters referred to Hayes as a market manipulator because of his recent trading activity. Others pointed to his previous token sales that attracted widespread attention.
Hayes recently exited his entire ZEC position after developers disclosed and patched a vulnerability within the Zcash protocol. The sale came shortly after the issue became public.
He also reduced holdings in assets such as NEAR, HYPE, and WLD during recent market volatility. Those transactions followed earlier public comments about the projects.
After some of those sales became known, the affected assets recorded sharp price declines. ZEC experienced the steepest move among the tokens involved.
The privacy coin dropped more than 50% within 24 hours after the sale disclosure. Since then, the asset has recovered much of the lost ground.
Market data shows ZEC climbed from below $300 to above $500 during the rebound. The recovery restored a large portion of its earlier losses.
Whale Wallets and Bitmine Expand Ethereum Positions
Ethereum accumulation extended beyond Hayes and his associated wallet. Lookonchain reported fresh purchases from other large holders.
A wallet operating under the name geministar.eth bought another $20 million worth of Ethereum. The purchase increased its recent accumulation pace.
According to the data, the wallet acquired 32,278 ETH during the last two days. Those purchases carried a combined value of roughly $57 million.
The buying activity reflects continued interest from large Ethereum holders. Several transactions appeared within a short timeframe.
Meanwhile, Tom Lee-led Bitmine continued adding to its Ethereum treasury. The company regularly publishes updates regarding its ETH holdings.
Bitmine announced a $135 million Ethereum purchase on June 15. The company disclosed the transaction through its scheduled weekly update.
New data from Lookonchain showed Bitmine acquired another 20,000 ETH through FalconX. The latest purchase cost nearly $36 million.
Bitmine has repeatedly stated its long-term Ethereum objective. The company aims to hold 5% of Ethereum’s total circulating supply.
Lookonchain published the latest accumulation figures as Ethereum buying activity continued across multiple large wallets. The reported purchases included Hayes-linked accounts, geministar.eth, and Bitmine’s growing treasury position.
