Large amount of altcoin sales from Arthur Hayes: He explained the reason

Arthur Hayes, one of the closely followed names in the cryptocurrency market, came to the fore with the sale of large amounts of altcoins.

According to blockchain data, Hayes sent cryptocurrencies with a total value of approximately 22 million 280 thousand dollars yesterday to over-the-counter (OTC) trading platforms such as Flowdesk, FalconX and Wintermute.

Ether constituted the majority of the transferred assets.

Which altcoins did he transfer?

According to on-chain records, the transfers made by Hayes are as follows:

6 thousand 400 ETH: 15.2 million dollars

14 million ENA: $2.76 million

323 thousand UNI: 2.24 million dollars

1.89 million ETHFI: 1.23 million dollars

546 thousand 609 AERO: 398 thousand dollars

120 thousand PENDLE: 244 thousand dollars

3 million ZAMA: 214 thousand dollars

Hayes: I took my profit, I'm waiting

In his statement, Arthur Hayes stated that the investment fund Maelstrom realized profits in all of its price-dependent positions in ETH, ENA, UNI and other altcoins.

Hayes stated that he thinks that in order for the rise in the cryptocurrency market to continue, there must first be a retreat.

The famous investor emphasized that macroeconomic and geopolitical developments were also effective in this decision.

Stating that the current economic and political conditions seem unstable, Hayes said that he would prefer to wait rather than take a new position until clearer signals regarding the direction of the market emerge.