Renowned cryptocurrency investor Arthur Hayes has reportedly divested his holdings in GMX, marking the end of his two-year tenure as the coin’s largest holder. In the past 24 hours, trading volume for $GMX has surged significantly, soaring by over 400%. However, market data suggests that selling pressure outweighs buying sentiment, resulting in an 8% decline in the token’s value over the past week and a notable 29% drop over the past month. According to reports from the cryptocurrency analytics platform Lookonchain, Hayes, the founder of BitMEX, has unstaked a substantial amount of 237,672.8 GMX tokens, valued at nearly $9.7 million.
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The co-founder and former CEO of Bitmex, Arthur Hayes, has published a new blog post concerning the current state of cryptocurrency markets. Hayes says currently there’s an inability to recognize the cyclical nature of markets and the “inconvenient truth” that is crypto is now moving in “lockstep” with market equities. Hayes expects the Nasdaq 100 […]
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