The cryptocurrency market reached new heights in July as the total cap exceeded $4 trillion for the first time ever, led by bitcoin\u2019s new peak above $123,000 and several altcoins\u2019 rallies to ATHs, such as XRP and BNB.<\/p>\n
The past few days, though, have gone in the opposite direction, with many altcoins charting double-digit price declines, while BTC plunged to a three-week low of under $113,000.<\/p>\n
During these turbulent times of uncertainty, perhaps prompted by Trump\u2019s latest tariffs and the movement<\/a> of US nuclear submarines close to strategic Russian locations, prominent industry names, such as Arthur Hayes, have started to sell off. Here\u2019s which altcoins the BitMEX co-founder sold in the past 24 hours.<\/p>\n As the data shared by the analytics resource Lookonchain points out, Hayes has used one of his known addresses to dispose of over $8 million worth of ETH, $4.6 million in ENA, and $414,700 worth of the third-largest meme coin by market cap \u2013 PEPE.<\/p>\n Later, the Maelstrom exec clarified that the reason for his sales is mostly related to Trump\u2019s tariffs<\/a>, many of which are set to be implemented starting from August 1. He believes BTC and ETH will retrace, as the former would retest the $100,000 resistance, while the latter will head toward $3,000.<\/p>\n Y? US Tariff bill coming due in 3q \u2026 at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So $BTC<\/a> tests $100k, $ETH<\/a> tests $3k. Come see my @WebX_Asia<\/a> Tokyo keynote Aug 25 for more info. Back to the beach. https:\/\/t.co\/zuHlwgQKC7<\/a><\/p>\n \u2014 Arthur Hayes (@CryptoHayes) August 2, 2025<\/a><\/p>\n\n Hayes is far from the only larger crypto investor turning to a sell-off strategy amid this market uncertainty. Lookonchain\u00a0identified<\/a> an unknown whale that had deposited over $90 million worth of ETH to several exchanges within a<\/span>\u00a0span of just two days.<\/p>\n While some whales and Hayes are rushing to sell ETH, the second-largest ether holder, SharpLink, has taken the opportunity to increase its impressive stash.<\/p>\n SharpLink(@SharpLinkGaming<\/a>) spent another 108.57M $USDC<\/a> to buy $ETH<\/a> in the past 9 hours and received 14,933 $ETH<\/a>($52.56M) 3 hours ago.<\/p>\n SharpLink now holds a total of 464,209 $ETH<\/a>($1.63B).https:\/\/t.co\/cW8EvzSFxt<\/a>https:\/\/t.co\/7wH1lpRocu<\/a> pic.twitter.com\/weDyfVzm1J<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) August 2, 2025<\/a><\/p>\n\n After accumulating another 14,933 ETH, the company now owns over $1.6 billion worth of Ethereum\u2019s underlying asset (464,209 ETH), according to Lookonchain. Data from CoinGecko and strategicethreserve shows that SharpLink\u2019s Ethereum fortune is second only to Bitmine\u2019s 566,766 ETH.<\/p>\n The post Arthur Hayes Is Selling: Here Are the Altcoins He\u2019s Ditching<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The cryptocurrency market reached new heights in July as the total cap exceeded $4 trillion for the first time ever, led by bitcoin\u2019s new peak above $123,000 and several altcoins\u2019 rallies to ATHs, such as XRP and BNB. The past few days, though, have gone in the opposite direction, with many altcoins charting double-digit price […]<\/p>\n","protected":false},"author":0,"featured_media":85820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-85819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/85819"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=85819"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/85819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/85820"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=85819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=85819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=85819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETH, ENA, PEPE Being Sold<\/h2>\n
Not SharpLink, Though<\/h2>\n