Arthur Hayes Reverses Course With $3.7M Ethereum Buy After Selling 6,000 ETH

Arthur Hayes has once again shifted his crypto strategy, purchasing more than $3.7 million worth of Ethereum (ETH) just weeks after selling a large portion of his holdings at a significant loss. The move adds to a growing list of high-profile trading reversals that have drawn attention across the cryptocurrency market.

Hayes has become known for making bold calls on digital assets such as Synapse (SYN), Hyperliquid (HYPE), Zcash (ZEC), NEAR Protocol (NEAR), and Worldcoin (WLD), only to reduce or completely exit those positions shortly afterward. The pattern has sparked criticism from market observers, who argue that his public buying activity is often followed by quieter sell-offs.

According to on-chain data shared by Onchain Lens, Hayes initially transferred $1.25 million in USDC to prime broker FalconX. Minutes later, Galaxy Digital sent 646.33 ETH, worth approximately $1.24 million, to his wallet in what analysts believe was an over-the-counter (OTC) transaction.

Shortly after, Hayes acquired another 1,293 ETH valued at around $2.48 million. Combined with the earlier transfer, his Ethereum purchases for the day exceeded 1,900 ETH.

At the time of publication, Ethereum traded near $1,920, up 2.79% over the previous 24 hours. The cryptocurrency maintained a market capitalization of roughly $231 billion, keeping its position as the world's second-largest digital asset.

The latest accumulation marks a dramatic reversal from late June, when Hayes sold 6,000 ETH at an estimated loss of $606,000. During the same period, he also exited positions in Worldcoin, Zcash, NEAR, and Hyperliquid, citing concerns over rising energy prices, AI-related IPO activity, and political uncertainty affecting crypto markets.

Hayes also invested about $2.2 million in Synapse's SYN token in late June. Since then, the token has declined by more than 55%, leaving the position with an estimated unrealized loss of roughly $610,000, or about 28%.

Despite those setbacks, Hayes' earlier Bitcoin forecast proved more successful. His prediction that BTC would bottom near $40,000 was later echoed by a major Chinese mining company. Investors will now be watching closely to see whether his renewed Ethereum bet delivers stronger returns than his recent altcoin trades.