Renowned crypto investor Arthur Hayes has been actively selling his $ATH holdings, even at a loss.
An hour ago, Hayes transferred 2.951 million $ATH (valued at $174,000) to Bybit and sent an additional 30 million $ATH (worth $1.77 million) to wallet 0x75b, likely bound for exchanges such as Bybit and OKX.
Arthur Hayes (@CryptoHayes) continues offloading $ATH at a loss!
An hour ago, he deposited 2.951M $ATH ($174K) to #Bybit and sent 30M $ATH ($1.77M) to wallet 0x75b, likely destined for Bybit and OKX.
Overall, Arthur Hayes accumulated 116.63M $ATH at ~$0.065 (Aug 15–Sep 27) but… https://t.co/3tF4aB9VK7 pic.twitter.com/go3nqqKbJD
— Spot On Chain (@spotonchain) November 21, 2024
Between August 15 and September 27, Hayes accumulated 116.63 million $ATH at an average price of $0.065 per token. However, since October 18, he has been unloading his position at an average price of $0.0546, resulting in an estimated loss of $948,000 (a 12.5% decline). Currently, Hayes retains 37.91 million $ATH (valued at $2.24 million) across two wallets.
Aethir’s LayerZero Integration
Despite the sell-off, Aethir’s $ATH token has gained attention due to its recent integration with LayerZero, an omnichain messaging protocol. This collaboration introduces omnichain capabilities to Aethir’s ecosystem and supports its development on the Sophon ZK chain.
⚡️ @Aethir $ATH has announced its integration with @LayerZero_Core $ZRO
Aethir integrates with LayerZero, an omnichain messaging protocol. This innovation will bring omnichain features to the Aethir ecosystem and support its development on the Sophon ZK chain. Aethir's native… pic.twitter.com/7xRlA5RBHI
— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) November 21, 2024
The integration allows $ATH to function as an omnichain asset, making it native to multiple blockchains simultaneously. This advancement aligns with Aethir’s mission to provide scalable, decentralized cloud infrastructure tailored for gaming and AI applications.
Market Dynamics
Hayes’ substantial sell-off reflects a strategic realignment, potentially due to market conditions or portfolio restructuring. However, Aethir’s recent technical developments, including the LayerZero integration, highlight the project’s commitment to innovation and scalability in decentralized cloud solutions.
While Hayes’ exit might temporarily pressure $ATH’s price, the integration could boost long-term adoption and utility, attracting new investors and strengthening Aethir’s position in the blockchain ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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