Arthur Hayes accelerates adjustment of cryptocurrency portfolios—observes shift in investment strategies across multiple tokens

CryptoMom · 2026-03-12T08:21:39+00:00

Arthur Hayes, co-founder of BitMEX, is reducing his positions in major cryptocurrencies, indicating a shift in his investment strategy. This trend, evident in his recent sales of PENDLE, ENA, and LDO tokens at losses, reflects changing market psychology amidst ongoing volatility.

CryptoMom

2026-03-12 08:21:39

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Arthur Hayes, co-founder of the Bitcoin futures exchange BitMEX, has been gradually reducing his positions in several major cryptocurrencies. Based on trading data from early February, a new trend in his investment behavior is emerging, sparking discussions in the market about how this could influence future price movements.

The “Buy High, Sell Low” Pattern Seen in PENDLE Trading

Arthur Hayes previously purchased 1.4 million PENDLE tokens at $2.06 each, investing a total of approximately $2.87 million. Recently, he sold 327,869 tokens at $1.53 each, recovering about $502,000. Compared to his purchase price, the sale price represents roughly a 26% decline, indicating a loss-cutting sale. Currently, PENDLE’s price has fallen to $1.31, showing that the overall market is in a correction phase.

Similar Patterns in ENA and LDO—Expanding Position Compression

In the case of ENA, Hayes acquired 15.8 million units at $0.23, investing about $3.6 million, while selling 3.6 million units at $0.14, which left him with approximately $499,000. This results in a loss of about 39%. Similarly, with LDO, he bought 2.3 million tokens at $0.56 (totaling around $1.29 million) and sold 2.31 million at $0.42, recovering about $980,000—also a loss of over 25%. Currently, ENA is trading at $0.10, and LDO at $0.29, indicating continued downward pressure on these assets.

Changing Investment Strategies Reflecting Market Sentiment

The repeated pattern of selling across multiple tokens suggests that this is not mere coincidence but indicates a clear shift in Hayes’s investment strategy. Market participants are jokingly commenting that he is “buying high and selling low,” but this reflects a broader investor psychology where risk appetite is shrinking amid increased volatility. As the entire crypto market undergoes a correction, the position adjustments by prominent investors like Hayes will be an important indicator for future market trends.

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