Hayes and Whales Bet on Crypto Dip as Some Miss Out

Arthur Hayes used the recent market slide to buy into altcoins, spending roughly $888,000 on AERO, PENDLE and ZAMA according to on-chain data. The purchases, tracked by Arkham, began in early to mid-October. Analyst Eric Nicolas Freund suggested Hayes may soon start discussing these tokens publicly.

Other large holders also moved during the downturn. One address bought back 6,010 ETH worth $14.23 million after an earlier profitable sale. Another wallet sold 6.76 million BTW tokens prematurely and missed an estimated $13.5 million in gains.

Leveraged bets showed mixed results. A trader opened a 25x long on 3,000 ETH near $2,400 and now sits on an unrealized loss of about $150,000. Meanwhile, a short specialist has booked over $6.4 million in profits and maintains $24.6 million in leveraged short positions across major tokens with a perfect track record so far.

Based on information from cryptonews.net