Arthur Hayes, co-founder of BitMEX, continued his active accumulation of altcoins in the wake of the recent price drop. This time he significantly increased his holdings of Hyperliquid (HYPE), Lido DAO (LDO), and Ethena (ENA), despite the sharp market correction.
Blockchain data shows that in the last 24 hours he acquired HYPE tokens worth over $530,000. He also purchased LDO worth $278,000 on Binance and another $241,500 from other sources, as well as ENA for $253,350.
Market fluctuations were unable to slow Hayes' accumulation
The latest purchases came after 24 hours of volatile cryptocurrency market. On Thursday, Bitcoin reached a new all-time high of $124,400, but by evening it had fallen to just over $117,000. Since then, it has slightly recovered and was trading at $119,223 at the time of publication. Bitcoin's volatility has also impacted the altcoin market.
Hayes' target assets also demonstrated rapid price dynamics. HYPE jumped 2.5% to $48.58 after briefly touching $44, while ENA fell to $0.6948 before recovering to $0.7535. LDO remains under pressure, trading at $1.41, down 2%.
Hayes' five-day buying spree exceeded $15.9 million
Today's purchases are part of a larger five-day accumulation series by Hayes, during which he acquired 1,750 ETH for $7.43 million. Meanwhile, thanks to the upward trend of Ethereum, the value of this asset has surpassed $8 million, yielding a net profit of $638,560.
Hayes also invested $2.6 million in acquiring 58,631 HYPE tokens, and their value has since risen to $2.82 million. This yielded him a profit of $206,145. However, other crypto investments by Hayes remain unprofitable. His $2.48 million investment in acquiring 3.1 million ENA tokens has resulted in a loss of over $25,200.
On the topic: LDO and PENDLE join ETH as Arthur Hayes builds his altcoin stack by 2025.
Although some of these assets are still in the red, Hayes' recent acquisitions have collectively yielded an estimated unrealized profit of $534,303. His ongoing accumulation of assets reflects confidence in certain altcoins, even as overall market sentiment remains volatile.
On the topic: Ethereum (ETH) price forecast: analyst predicts a target price of $8,500 according to Standard Chartered Ups.
