BitMEX Founder Moves $1M+ in GMX Tokens to Centralized Exchanges: Insights Revealed ๐
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 Hayesโ Transfer: What the Data Shows ๐
- 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 ๐ง
- Arkham, a crypto analytics company, corroborated Hayesโ 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 ๐
- 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 Founderโs Token Movement ๐ค
Follow the data and analytics surrounding BitMEX founder Arthur Hayesโ recent token transfers, shedding light on the vast movements within the crypto space.
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