BitMEX co-founder Arthur Hayes has made a notable on-chain purchase, acquiring 1,500 Ethereum (ETH) for approximately $2.63 million. The transaction was executed through the institutional OTC desk Cumberland at a price of around $1,753 per ETH, as flagged by blockchain analytics platform Onchain Lens.
The purchase, linked to an address associated with Hayes, underscores a steady accumulation pattern by the former exchange executive, who has been an outspoken supporter of Ethereum and its ecosystem. Despite ongoing market uncertainty, the move signals continued confidence from high-profile crypto participants.
Cumberland’s role as the counterparty highlights the use of discreet, large-scale liquidity channels to minimize market impact. While such whale transactions do not guarantee price rallies, they often serve as sentiment indicators for retail traders, emphasizing that significant capital still flows into ETH.
