Crypto billionaire Arthur Hayes has sold millions of dollars’ worth of digital assets, according to on-chain analysts, in what they describe as a significant portfolio reduction.
The BitMEX co-founder has reportedly liquidated over $2.4 million in holdings, including Ethereum (ETH), Ethena (ENA), Lido (LDO), Aave (AAVE), and Uniswap (UNI).
Blockchain tracker Lookonchain flagged the transactions on Nov. 17, saying Hayes was “dumping his bags heavily.”
Hayes has not publicly commented on the reasoning behind his moves.
Hayes trims exposure
According to Lookonchain, the wallet linked to Hayes sold:
* 260 Ethereum (ETH) worth roughly $820,000.
* 2.4 million Ethena (ENA) worth about $651,000.
* 640,000 Lido (LDO) valued at $480,000
* 1,630 Aave (AAVE) worth $289,000.
* 28,670 Uniswap (UNI) worth $209,000.
While it is unclear if Hayes is preparing for a broader market correction or reallocating capital elsewhere, the sale has drawn attention from traders who closely monitor large whale movements for sentiment cues.
Hayes’ stance on ETH, ENA, LDO, AAVE and UNI
In the past, Hayes has outlined a consistent thesis across Ethereum, Ethena, Lido, Aave, and Uniswap — viewing them as core pillars of what he sees as the next phase of the crypto economy. He has remained structurally bullish on Ethereum, predicting in August on Crypto Banter that it can go to $10,000, $20,000, before the end of the cycle, without indicating when the cycle would end.
His most passionate commentary has centered on Ethena. In an interview with Coin Bureau on Nov. 2, the BitMEX co-founder described Ethena as one of the future “big three” issuers alongside Tether (USDT) and Circle (USDC), predicting that “Athena will take over Circle as the number two spot.”
On Lido (LDO) and Aave (AAVE), Hayes has signaled confidence through both public analysis and investment activity. He views Lido as critical to Ethereum’s liquid-staking economy and Aave as a foundational lending layer that will remain essential as DeFi matures.
Hayes had recently returned to Uniswap (UNI) as well, snapping up 28,670 UNI worth about $244,000. According to Lookonchain, it is the first time he has added to his UNI holdings in roughly three years.
