Hayes Buys $2.6 Million In Ethereum Through Cumberland

Arthur Hayes, co-founder of BitMEX, has made another significant on-chain move by acquiring 1,500 Ethereum worth approximately $2.63 million.

The transaction was executed through Cumberland, a well-known institutional over-the-counter (OTC) trading desk, and the funds were transferred from Cumberland to an address associated with Hayes.

Hayes has been an outspoken proponent of Ethereum's potential in the current macroeconomic environment, and this latest buy adds to his series of on-chain moves by prominent figures in the crypto space.

The purchase price at the time of the transaction was roughly $1,753 per ETH, reflecting a steady accumulation pattern by Hayes.