Arthur Hayes Makes a Major Purchase of Aethir (ATH) Tokens
A well-known crypto investor and former CEO of BitMEX, Arthur Hayes, recently made a significant purchase of the lesser-known altcoin Aethir (ATH). This transaction involved the acquisition of 11.4 million ATH tokens, valued at around $779,000. Data analytics firm Lookonchain identified and reported this purchase, which took place on the OKX crypto exchange.
- Arthur Hayes acquired 11.4 million Aethir (ATH) tokens worth $779,000.
- The purchase was reported by on-chain data analytics firm Lookonchain.
- The transaction took place on the OKX crypto exchange.
Another Whale Joins the Fray
Following Hayes’ purchase, another significant acquisition was made by an anonymous whale investor. This investor bought 28.87 million ATH tokens, amounting to approximately $1.95 million. The tokens were acquired across various exchanges, including Bybit, KuCoin, and OKX. Lookonchain provided data on this additional purchase.
- An anonymous whale investor purchased 28.87 million ATH tokens worth $1.95 million.
- The acquisition was made across multiple exchanges, including Bybit, KuCoin, and OKX.
- Lookonchain data revealed details about this purchase.
Hayes’ Market Forecast and Altcoin Resurgence
Hayes’ recent activities come on the heels of his market forecast, detailed in a recent essay. He hinted at a potential upswing in the crypto market starting in September this year. In his essay, Hayes expressed his intentions to capitalize on the weakness in the late summer months to increase his crypto risk exposure.
- Hayes forecasted a potential upswing in the crypto market starting in September.
- He plans to take advantage of the current weakness to increase his crypto risk exposure.
- The forecast aligns with his expectation for altcoin resurgence contingent upon Bitcoin and Ether price movements.
Understanding Aethir (ATH) Token
Aethir (ATH) token serves as the native cryptocurrency of the Aethir network, playing a crucial role in its decentralized GPU cloud infrastructure. The token functions as a utility and governance token within the network, particularly in providing decentralized cloud solutions for AI and gaming through its DePIN technology.
- ATH is the native cryptocurrency of the Aethir network.
- It functions as a utility and governance token within the network.
- The token is integral to providing decentralized cloud solutions for AI and gaming.
Key Uses of ATH Tokens:
- Payment for services like renting GPU resources.
- Participation in voting on network proposals.
- Rewarding participants in the network.
Aethir Network Features:
- Emphasis on community participation and decentralization.
- Widely distributing ATH tokens through airdrops and earning opportunities.
Market Stats:
- Circulating supply of approximately 4.056 billion ATH tokens.
- Market cap of around $276 million, ranking 215th in market cap.
- Trading volume of $91.15 million in the last 24 hours.
- Current price of ATH at $0.068059, down -4.6% in the last 24 hours.
Hot Take: The Future of Aethir (ATH) in the Crypto Market
As Aethir (ATH) gains attention with notable investors like Arthur Hayes, its prospects in the crypto market are poised for growth. With unique offerings in the decentralized cloud solutions space, the token’s utility and governance roles could contribute to its value appreciation. Keep an eye on Aethir (ATH) as it navigates the crypto landscape alongside major players like Bitcoin and Ether.
Sources:
Lookonchain – Purchase by Arthur Hayes
Lookonchain – Whale Investor Activity
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