Arthur Hayes offloads $13 million in ETH, PEPE, and ENA amid market pullback

BitMEX co-founder Arthur Hayes bought roughly $13 million price of crypto belongings on Friday, together with Ethereum, Ethena (ENA), and Pepe (PEPE), amid a market-wide decline, based on blockchain analytics platform Lookonchain.

Arthur Hayes(@CryptoHayes) bought 2,373 $ETH($8.32M), 7.76M $ENA($4.62M) and 38.86B $PEPE($414.7K) up to now 6 hours.https://t.co/1HymJRPhcj pic.twitter.com/MoJNKUjJaQ

— Lookonchain (@lookonchain) August 2, 2025

The gross sales comprised 2,373 ETH, 7.7 million ENA, and round 39 billion PEPE tokens. Over the previous 24 hours, Ethereum fell 5% to beneath $3,600, whereas each PEPE and ENA declined about 2%, CoinGecko knowledge reveals.

ENA had gained over 40% to $0.7 up to now week following two key developments: the launch of USDtb, the primary stablecoin compliant with the US GENIUS Act, by Anchorage Digital and Ethena Labs, and Ethena Basis’s announcement of a $260 million ENA token buyback.

Hayes had accrued over 2 million ENA tokens after the Anchorage Digital and Ethena Labs announcement, constructing his place to 7.7 million tokens earlier than at the moment’s sale.

Arthur Hayes(@CryptoHayes) purchased 2.16M $ENA($1.03M) at the moment from #Binance, #GalaxyDigital, #Flowdesk, and at the moment holds 7.76M $ENA($3.73M).https://t.co/1HymJROJmL pic.twitter.com/uB1DWSU2JP

— Lookonchain (@lookonchain) July 25, 2025

Friday’s market downturn was marked by Bitcoin’s plunge to $113,000 following President Trump’s announcement of recent tariffs, which triggered a wave of risk-off sentiment. Most altcoins adopted BTC because the bullish momentum pale.

Hayes beforehand predicted that crypto markets would transfer sideways to barely decrease between early July and Fed Chair Jerome Powell’s Jackson Gap Symposium speech in August, the place he anticipated Powell may sign an finish to quantitative tightening or announce regulatory adjustments.

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