Arthur Hayes Shifts $2M ETH to DeFi Tokens, Suggesting Persistent Altcoin Opportunities Amid Range-Bound Trading

Crypto Ethereum

Arthur Hayes Shifts $2M ETH to DeFi Tokens, Suggesting Persistent Altcoin Opportunities Amid Range-Bound Trading

Arthur Hayes, BitMEX co-founder, has transferred 680 ETH worth $2 million into top DeFi tokens, highlighting ongoing altcoin opportunities in the crypto market. This move signals confidence in high-yield DeFi projects amid Ethereums stagnant trading range, urging traders to focus on emerging winners like Hyperliquid and Solana.

• Hayes rotates 680 ETH ($2M) into DeFi protocols, demonstrating belief in sector growth despite ETHs sideways movement.
• Experts note “altcoin season is always happening,” advising against chasing outdated trends.
• Hyperliquid surged from $2–$3 to $60, while Solana rebounded from $7 to nearly $300, per market data from 2022–2025.

What is Arthur Hayes Doing with His Ethereum Holdings？

Arthur Hayes, the influential co-founder of BitMEX, has strategically transferred 680 ETH valued at approximately $2.03 million into prominent DeFi tokens. This rotation follows a previous move of 508.647 ETH worth $1.5 million to Galaxy Digital, which on-chain data from Lookonchain suggests was for liquidation purposes. By diversifying into DeFi, Hayes is positioning himself to capitalize on high-performing assets in a market where Ethereum remains confined to a tight trading range.

How Does Hayes View Altcoin Season in the Current Market？

Hayes maintains that altcoin season is a perpetual phenomenon in the crypto ecosystem, not a sporadic event tied to specific cycles. In a recent discussion with crypto commentator Kyle Chasse, he stated, “Many crypto traders are busy waiting for the next altcoin season to happen, but what they fail to notice is that it is always happening.” This perspective challenges the conventional wisdom that altcoin rallies depend solely on Bitcoin‘s performance or broader market upswings. Supporting data from platforms like CoinMarketCap shows that while Bitcoin often leads, altcoins like those in DeFi have posted independent gains, with total value locked in DeFi exceeding $100 billion as of early 2025. Hayes’ approach involves vigilant monitoring of new entrants, avoiding the pitfalls of fixating on past performers. For instance, he pointed to Hyperliquid (HYPE), which debuted at $2–$3 and climbed to $60 within months, driven by innovative perpetual futures features. Similarly, Solana‘s recovery from a 2022 low of $7 to peaks near $300 in prior years underscores the value of tracking resilient ecosystems. Financial analysts from Bloomberg Intelligence have echoed this, noting in reports that DeFi’s evolution continues to outpace traditional crypto narratives, with year-over-year growth in active users surpassing 50% in key protocols.