Arthur Hayes (아서 헤이즈), a BitMEX co-founder, disposed of about $22.28 million worth of Ethereum and major altcoins at once.

Cryptopolitan, a blockchain outlet, reported on Oct. 24 that Hayes reduced positions by moving seven tokens to external addresses and exchange deposit addresses that day.

Based on on-chain tracking, the main sales were 6,400 ETH, 14 million ENA and 323,000 UNI. That was worth about $15.2 million in Ethereum, about $2.76 million in Ethena and about $2.24 million in Uniswap. EtherFi (ETHFI), Aerodrome (AERO), Pendle (PENDLE) and Zama (ZAMA) also moved out.

The scale of ETH transfers confirmed on Etherscan was larger. A total of 8,000 ETH was split into four transfers from one Hayes-linked address. It sent 3,200 ETH to a Galaxy Digital deposit address, while 1,600 ETH each moved to Binance, FalconX and another address.

A main wallet moved 14 million ENA to a Binance deposit address and sent 323,000 UNI and 3 million ZAMA to a Wintermute-linked address. Minutes later, the Wintermute wallet sent back 2,425,850 USDC. The same wallet transferred 1.89 million ETHFI to a FalconX deposit address and moved 120,000 PENDLE to a separate address. On the Base network, 546,610 AERO was sent to Binance.

Hayes' latest move contrasts with his recent bullish comments. He wrote this month that people should expect trillions of dollars in bailouts and buy BTC and ETH. After the large ETH transfers, he said he would wait and see for now while waiting for warning signs to clear. It marked a step back from his previous stance of raising exposure to risk assets.

The wait-and-see stance also differs from what he said in an essay in May. At the time, he suggested a bitcoin bottom around $60,000 and mentioned the possibility of a rise to $126,000. He also wrote that unless the situation changed sharply, he would take the Maelstrom portfolio to maximum risk levels.

He also said in June that he closed out all of his HYPE and NEAR positions because of the macro environment. Analyst ZachXBT pointed out that Hayes sold only two weeks after mentioning HYPE, NEAR, ZEC and WLD. Hayes responded, "I sold because there were buyers."

This time as well, Hayes moved to cash out on a large scale just days after putting out a bullish message. A labeled wallet still holds 14.45 million ENA, so further wallet movements are expected to be watched to see whether the position reduction leads to a full exit.

I dumped it all. The Maelstrom directional book, took profits on $ETH, $ENA, $UNI and other shitcoins. I think we gotta go down to go up. It looks a bit dicey out there in macro and geopolitical land. Going to sit on the sidelines and wait for the all clear signal … Brrrrr