Arthur Hayes, Who Hadn’t Made a Single Trade in 52 Days, Just Bought the Altcoin He’s Been Talking About So Much

Arthur Hayes, a prominent figure in the cryptocurrency market, has broken his long silence and resumed buying cryptocurrencies.

According to on-chain data, Hayes increased his investment in Hyperliquid (HYPE) token approximately 3 hours ago, after 52 days of inactivity.

According to the transaction, Hayes purchased 26,000 HYPE tokens through market maker Flowdesk, generating approximately $1.1 million in assets. With this latest transaction, Hayes’ total HYPE holdings reached 247,000 tokens, bringing the current value of his portfolio to approximately $10.4 million.

On the other hand, Hayes’ latest move aligns with his statements in an interview yesterday. Drawing attention to decentralized exchanges (DEX), Hayes specifically highlighted the Hyperliquid project. He argued that Hyperliquid, unlike traditional exchanges, offers 24/7 trading and allows leveraged trading of various assets such as oil, gold, and stock indices.

Related News: A Spot ETF Signal Has Been Issued for an Altcoin - It Could Launch Soon

Hayes also made noteworthy comments about the privacy-focused altcoin Zcash. He stated that Zcash fulfills the need for “real digital cash” at a time when the influence of institutions and governments on the crypto market is increasing, and therefore, it could continue to appreciate in value in the long term.

Speaking about the macroeconomic outlook, Hayes stated that he expects an economic slowdown caused by artificial intelligence in the short to medium term, but he did not change his long-term expectations. Hayes added that he maintains his $500,000 target for Bitcoin.

*This is not investment advice.

Continue Reading: Arthur Hayes, Who Hadn’t Made a Single Trade in 52 Days, Just Bought the Altcoin He’s Been Talking About So Much