Ethereum News: Arthur Hayes Moves Another 682 ETH Sparking Selloff Woes

Hayes picked up 1.22 million ENA worth $257,500, 137,117 PENDLE valued at $259,000, and 132,730 ETHFI priced near $93,000.

Arthur Hayes was active in Ethereum markets between December 19 and 20, moving funds across several major trading desks.

The BitMEX founder transferred roughly $1.5 million in ETH to Galaxy Digital and another $2.03 million to Binance and Flowdesk over the same period.

At the same time, he also increased his portfolios holdings with DeFi tokens like ENA.

The pattern points to a familiar playbook: using ETH liquidity to rotate into higher-beta DeFi positions.

Hayes confirmed the strategy on December 20, saying he was trimming ETH in favor of select DeFi names he expects to outperform as liquidity conditions loosen.

The ETH Exchange Transfer is a Bearish Signal

Arthur Hayes ETH sell-off has rattled the market, pushing Ether below key support. A recent Ethereum news report by Coinrepublic indicated a drop in ETH exchange balances to a 9-year low which has made majority bulls optimistic that a bullish reversal hangs on the cards.

Nonetheless, the sell-off follows a familiar pattern, with Hayes move signaling continued pressure on Ethereum. The crypto investor has been more focused on DeFi tokens, even claiming that the majority of investors missed out on the altcoin season due to fear. Nonetheless, a new report by Memento

More than 80% of tokens launched this year are now trading below their launch prices, signaling a sour start for many venture-backed crypto projects.

Memento Research tracked 118 major token launches in 2025 and found that 100 of them, or 84.7%, are underwater compared with their initial fully diluted valuations.

The median token in the cohort has dropped 71% since launch, underscoring just how steep the markets losses have been for new projects.