Arthur Hayes Makes $2.63M Ethereum Purchase Amid ETH Market Recovery

BitMEX co-founder Arthur Hayes has purchased 1,500 ETH worth roughly $2.63 million from Cumberland, according to on-chain data reported by Onchain Lens. The move has fueled expectations that he could continue expanding his Ethereum position.

The acquisition comes as Ethereum shows signs of recovery after falling to a recent low of $1,505 on June 6. Since that drop, ETH has been trending higher and is now trading near $1,747, marking a 5.8% gain over the past week as market conditions begin to stabilize.

Source: Onchain Lens