By CryptoPotato | Created at 2026-08-01 09:14:20 | Updated at 2026-08-04 03:33:20
2 days ago
On-chain data suggested that he just incurred a 5.3% loss on his latest ETH endeavor.
One of the most recognizable and well-known figures in the cryptocurrency space has displayed a somewhat controversial approach to his Ethereum investments over the past few months.
The most recent data shared by Lookonchain doubled down on his sporadic approach, as he had realized another loss.
The analytics resource informed that the former BitMEX CEO deposited nearly 2,365 ETH into Cumberland and Galaxy Digital earlier today, and received 4.3 million USDC in return.
According to the analysts, this meant that his selling price was at $1,821 given the asset’s retreat over the past few days from a multi-month peak of $1,980.
Hayes secured a sizeable loss of $241,000 (or 5.3%) on this trade because he went on an accumulation spree during the aforementioned ascent from ETH. As previously reported, he bought 7,213 ETH for $13.87 million at an average price of $1,923.
Arthur Hayes(@CryptoHayes) bought high and sold low again!
Over the past 2 hours, he deposited 2,364.38 $ETH into Cumberland and Galaxy Digital, receiving 4.3M $USDC in return.
His selling price was $1,821, resulting in a loss of $241K (-5.3%).
He had previously bought 7,213… pic.twitter.com/4AVZpjANZD
— Lookonchain (@lookonchain) August 1, 2026
What’s interesting here is that this is not the first time Hayes has lost on ETH by buying high only to sell low weeks later. His previous major ETH trade was several weeks ago, when he accumulated at prices well over $1,900 again after the token jumped to $1,950.
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Once it started to nosedive, though, Hayes was quick to sell off his stash at an average price of under $1,700. Thus, he incurred another major loss in just weeks, while ETH’s price rebounded shortly after.
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About the author
Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.
