BitMEX Founder Moves $1M+ in GMX Tokens to Centralized Exchanges: Insights Revealed 📈
Reports suggest that BitMEX creator Arthur Hayes recently initiated a substantial transfer of GMX tokens to centralized exchanges. Here are some key takeaways from the on-chain data:
Arthur Hayes’ Transfer: What the Data Shows 📊
- Pseudonymous on-chain analyst EmberCN disclosed that Hayes controlled the most significant personal GMX address from 2022.
- Hayes moved 237,000 GMX tokens (approximately $9.78 million) to a newly established address.
- From this new address, 41,000 GMX tokens (valued at $1.68 million) were sent to centralized exchanges like Binance, OKX, and Bybit.
- EmberCN also hinted that the fresh address might belong to Wintermute, an algorithmic trading firm.
Further Confirmation and Insights 🧐
- Arkham, a crypto analytics company, corroborated Hayes’ substantial GMX token transfer.
- Hayes held GMX at an average price of $45 per token, with the asset currently trading at $41.54.
- GMX, ranked 225th by market capitalization, has dropped over 54% from its peak of $91.07.
The GMX Project Overview 🚀
- GMX specializes in perpetual futures trading, aiming to offer low swap fees and minimize price impact.
- The GMX token is utilized for staking and governance purposes within the project ecosystem.
Closing Thoughts on BitMEX Founder’s Token Movement 🤔
Follow the data and analytics surrounding BitMEX founder Arthur Hayes’ recent token transfers, shedding light on the vast movements within the crypto space.
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