Hayes-linked wallet and geministar buy $59M in ETH

A wallet tied to BitMEX co-founder Arthur Hayes purchased 1,400 ETH, about $2.51 million, during a recent market dip. Over a 48-hour span, the address known as geministar.eth received roughly 32,278 ETH, about $57 million, with much of the ether routed from Binance.

On-chain records show the Hayes-linked address added to earlier buys that together amounted to about $5.4 million following signs of easing geopolitical tensions. The pattern of purchases from that address spans multiple transactions over recent weeks.

Geministar.eth recorded several large transfers, including an inbound transaction of about 11,142 ETH valued near $19.94 million. The account’s accumulation occurred in large chunks rather than many small retail-sized buys.

A separate wallet sold 20,000 ETH, roughly $41.18 million, in under an hour late last month at a price near $2,059 per ETH.

Hayes has publicly expressed bullish views on ether’s long-term prospects, citing expanding macro liquidity and ether’s role as collateral in decentralized finance. He has previously outlined a year-end price target for ETH as high as $12,000. Addresses linked to Hayes have shown periods of selling followed by later re-entry into positions.

The recent on-chain records document both concentrated buying by large addresses and rapid, large-scale selling on the Ethereum network over recent weeks.