Maelstrom founder Arthur Hayes has exited his altcoin positions, selling $22.28 million worth of cryptocurrencies. The sale included 6,400 ETH ($15.2 million), 14 million ENA ($2.76 million), and 323,000 UNI ($2.24 million), among other tokens. Hayes confirmed the move on Twitter, stating he had taken profits on ETH, ENA, UNI, and other altcoins.
On-chain data from Lookonchain revealed the transfers, which also involved 1.89 million ETHFI ($1.23 million), 546,609 AERO ($398,000), 120,000 PENDLE ($244,000), and 3 million ZAMA ($214,000). Some of these assets were moved to exchanges like Binance.
Hayes cited concerns over macroeconomic and geopolitical risks, particularly rising tensions in the Middle East and U.S. inflation at 3.7%. He warned that crypto prices may need to fall further before a recovery, stating, “We gotta go down to go up.” Hayes plans to stay on the sidelines until market conditions improve.
The move contrasts with Hayes’ bullish outlook just nine days earlier. He now expects to wait for clearer signals before re-entering the market, emphasizing caution amid uncertain global conditions.