Hayes Seeks to Profit from ETHFI Rally with $1.17 Million Purchase

BitMEX co-founder Arthur Hayes has re-entered the market for Ether.fi (ETHFI) tokens, buying 1.9 million of them worth $1.17 million. This move comes after he sold a portion of his ETHFI holdings at $0.44 per token in April, losing roughly $118,000.

Hayes' new purchase price was $0.62 per token, which is about 41% higher than what he received when selling earlier this year.

ETHFI has seen a significant surge in value over the past week, rising by 25.3%. This growth beats Bitcoin's (BTC) 21.4% gain, but falls behind Ethereum's (ETH) 27.8% increase.