Shiba

Arbitrum

Arthur

Shiba Inu

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<p dir="ltr">Arthur Hayes, the iconic&nbsp;<a href="https://u.today/bitcoin-etf-impact-arthur-hayes-bold-prediction-stirs-up-market-buzz" rel="noopener noreferrer nofollow">crypto investor</a> has allegedly&nbsp;<a href="https://twitter.com/lookonchain/status/1777168274809397263?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">sold off</a> his stake in GMX, a move that will effectively end his two-year dominance as the coin’s largest holder.</p>
<h2 id="arthur-hayes-bags-loss-on-gmx">Arthur Hayes bags loss on GMX</h2>
<p dir="ltr">According to data from the crypto analytics platform Lookonchain, the BitMEX founder unstaked 237,672.8 GMX tokens valued at approximately $9.7 million. These tokens were reportedly moved to Wintermute, and Lookonchain projected that Hayes could make as much as $3.2 million, seeing as his buying price for these offloaded tokens was $29.74.</p>
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 <p lang="en" dir="ltr">Arthur Hayes(<a href="https://twitter.com/CryptoHayes?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CryptoHayes</a>) unstaked all 237,672.8 <a href="https://twitter.com/search?q=%24GMX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GMX</a>($9.7M) and transferred it to <a href="https://twitter.com/hashtag/WintermuteTrading?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#WintermuteTrading</a>, possibly selling <a href="https://twitter.com/search?q=%24GMX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GMX</a> by <a href="https://twitter.com/hashtag/WintermuteTrading?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#WintermuteTrading</a>.His average cost of buying <a href="https://twitter.com/search?q=%24GMX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GMX</a> is ~$29.74, and he will make ~$3.2M after selling.<a href="https://t.co/kMs7HWy115" rel="noopener noreferrer nofollow">https://t.co/kMs7HWy115</a> <a href="https://t.co/d6pyFSdx7J" rel="noopener noreferrer nofollow">pic.twitter.com/d6pyFSdx7J</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1777168274809397263?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
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<p dir="ltr">In other reports, Arthur Hayes might have also bagged a loss of $205,000 from the sale of 41,000 GMX sold recently. He reportedly sent these tokens worth about $1.68 million to centralized exchanges (CEXes) at a selling price of $40. The perceived losses came as the average buying price of these tokens was $45.</p>
<p dir="ltr">Arthur Hayes is known as a trader with a rich history of profits and losses on his crypto bets. As&nbsp;<a href="https://u.today/bitmex-founder-arthur-hayes-takes-145-million-profit-with-strategic-moves" rel="noopener noreferrer nofollow">reported</a> earlier by U.Today, the veteran investor achieved a $1.45 million profit when he offloaded 500,000 PENDLE tokens back in early February.</p>
<p dir="ltr">Following the recent offloading of the GMX bag, Arthur Hayes still boasts of a sizable chunk of Ethereum (ETH), Arbitrum (ARB) and PENDLE.</p>
<h2 id="altcoin-season-fully-here">Altcoin season fully here</h2>
<p dir="ltr">With Bitcoin in recovery mode after retesting the $70,000 price benchmark, the majority of the altcoins now reentered their bullish zone to depict the reemergence of the altcoin season.&nbsp;</p>
<p dir="ltr">Despite Arthur Hayes's offloading, the price of GMX has retained its resilience, up by 1.3% to $40.30. The token’s trading volume has jumped by over 380% to $49,567,411.</p>
<p>To solidify the altcoin season thesis, tokens like Shiba Inu (SHIB) have also seen many&nbsp;<a href="https://u.today/shib-burns-surge-drastically-with-91-million-coins-scorched-by-mysterious-whale" rel="noopener noreferrer nofollow">growth metrics jump</a> to start the week on a bullish footing.</p>

Arthur Hayes Sells off GMX Stake, Here's His Total Loss

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