Arthur Hayes sells $5.5 million worth of ETH to buy DeFi tokens, which have experienced a 60%-90% annual decline.

not_your_keys · 2026-01-01T01:22:08+00:00

Arthur Hayes sold $5.53 million worth of Ethereum within two weeks and bought significantly fallen DeFi tokens such as Pendle and Lido. His strategy is optimistic about high-quality DeFi assets under improved liquidity, despite these tokens currently trading well below their prices a year ago. Market reactions to his trades are mixed, with some remaining cautious.

not_your_keys

2026-01-01 01:22:08

Abstract generation in progress

Source: Yellow Original Title: Arthur Hayes sells $5.5M in ETH to buy DeFi tokens that have fallen 60%-90% year-over-year

Original Link: https://yellow.com/es/news/arthur-hayes-vende-55-m-en-eth-para-comprar-tokens-defi-que-han-caido-un-60-90-interanual

Trading Details

Former CEO of a certain exchange, Arthur Hayes, sold 1,871 Ethereum tokens worth $5.53 million over a two-week period ending December 31, to purchase decentralized finance tokens trading near multi-year lows.

Blockchain analytics firm Lookonchain reports that Hayes initially bought approximately $4.6 million worth of DeFi assets, including:

Pendle (PENDLE): $1.75 million
Lido DAO (LDO): $1.29 million
Ethena (ENA): $1.24 million
Ether.fi (ETHFI): $343,000

A few minutes later, Hayes added two more positions, purchasing an additional $986,000 of Ethena and $485,000 of Ether.fi.

The reallocated total capital exceeds $6 million.

Background

In early December, Hayes publicly stated that he was shifting Ethereum capital into what he calls “high-quality DeFi names,” which could outperform the market if fiat liquidity improves.

This former exchange executive engaged in similar sales activity in November, when the market was weak, selling ETH, ENA, and ETHFI at loss prices.

The four purchased tokens remain well below their levels from a year ago:

Pendle traded at around $2.00 on December 31, down over 60% year-over-year, despite a 14% weekly increase
Lido’s LDO dropped to about $0.60, down approximately 68% over the past 12 months
Ethena traded near $0.20, down over 75% from last year
Ether.fi hovered around $0.70, down more than 90% from early 2024 highs

Market Significance

Community reactions to these trades are clearly divided into bullish interpretations and cautious follow-the-whale positions.

Social media user Junar warned against buying: “This guy sells assets at a loss, so don’t FOMO here.”

Hayes’ concentrated bets on yield tokenization platforms and liquidity staking protocols indicate his belief that better liquidity conditions will benefit DeFi infrastructure more than layer-one assets.

Ethereum traded around $3,000 on December 31, roughly flat week-over-week, but down 11% year-over-year.

ETH0,04%

PENDLE0,05%

LDO-0,94%

ENA-1,36%

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RadioShackKnight

· 6h ago

Still daring to buy the dip despite the poor market, this guy is really bold

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WalletManager

· 6h ago

5.5 million USD invested in DeFi? Hayes's move, either a genius or a lunatic, I lean towards the former. --- A decline of 60-90%? Contrarian thinking is an opportunity, the key is who holds the private keys. --- Holding these devalued DeFi tokens, on-chain data speaks for itself, I think he's betting on a rebound. --- Exchanging ETH for DeFi tokens, the risk factor skyrockets, this guy's multi-signature wallet must be secure. --- A 60-90% decline… either a bottoming opportunity or a deep pit. I don't deny Hayes's judgment, but I wouldn't recommend retail investors to follow this move. --- I understand the logic of holding onto chips, just worried about potential hidden issues in the smart contracts, need to audit first. --- Trading 5.5 million USD for DeFi tokens? Long-term holding or short-term gambling? What's the asset allocation logic. --- This move has a bit of a gambler's mentality, but it's indeed a value investing approach, as long as there's no leverage, it can still be salvaged.

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OptionWhisperer

· 6h ago

The bottom-fishing fanatic is back to buying recklessly again? Will they turn things around this time? Haha

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TokenDustCollector