Arthur Hayes trims altcoins into multi-month lows – But doubles down on ZEC

Key Takeaways

Why did Arthur Hayes make such an enormous sale?

He diminished danger throughout a recession that liquidated greater than $620 million in positions.

Why is Hayes out of the blue optimistic about ZEC?

Rising liquidity stress and rising curiosity in privateness cash led him to purchase extra ZEC.

The market has taken a troublesome flip and Arthur Hayes is trimming his sails.

The BitMEX co-founder bought practically $5 million value of tokens in a single day, lowering his holdings on a number of main altcoins. His strikes got here because the market fell to multi-month lows, including to an already uncomfortable week for merchants.

Arthur Hayes releases large altcoins

Information from Lookonchain showed Arthur Hayes moved rapidly to mitigate danger following the market downturn, operating a number of trades by FalconX and Wintermute. His largest sale was roughly $2.48 million in Ethereum [ETH]adopted by $1.38 million in Ethena [ENA] and roughly $480,000 in Lido DAO [LDO].

Supply:

He additionally diminished positions in Aave [AAVE]Uniswap [UNI]and ether.fi, which collectively ship a couple of hundred thousand {dollars} value of tokens to OTC companies. The transmission historical past exhibits a transparent taper of publicity inside a couple of hours.

The fast exits have sparked speak of Hayes presumably turning into Zcash [ZEC]. The story is gaining recognition on X and Reddit.

Extra lately, Lookonchain reported that Hayes bought 1,480 ETH value $4.7 million within the final two days. Nevertheless, his timing was not robust. The final time he bought ETH on August 1 was the native low.

Supply:

Simply 9 days later he purchased it again at the next value.

A market shocked

Hayes’ speedy sell-off occurred throughout a interval of main market stress.

152,035 merchants within the final 24 hours were liquidatedwiping out practically $620 million in positions, in keeping with CoinMarketCap.

Bitcoin [BTC] accounted for the biggest share with $243.5 million in liquidations, adopted by Ethereum with round $170 million. The Heatmap additionally confirmed stress factors on main altcoins together with ZEC and Solana [SOL]and Ripple [XRP].

Supply: Coinmarketcap

The biggest single liquidation hit Hyperliquid’s BTC-USD pair for $30.6 million. With leveraged buying and selling on this scale declining, sentiment has modified. This creates an setting the place large holders like Hayes can transfer defensively.

Hayes helps ZEC

Constructing on that, Hayes’ newest public name could have contributed to ZEC’s rise.

After placing a ZEC/BTC chart and mentioned he had “apped extra,” merchants had been fast to note. The pair has risen steadily from round 0.0045 BTC and lately surpassed 0.0068 BTC.

A transparent sample of upper highs and better lows. The chart additionally confirmed stronger quantity.

Supply:

With rising rates of interest and tighter liquidity, Hayes’ purchases confirmed the sentiment shift in direction of ZEC.

AMBCrypto beforehand reported that Hayes nonetheless sees room for development within the crypto market.

He famous that earlier Bitcoin cycles peaked within the fourth quarter after the halving and mentioned this one might do the identical in 2025. This might even lengthen into 2026 if Trump boosts spending and retains markets dangerous.