Arthur Hayes Dumps Millions in Crypto During Market Turmoil

Arthur Hayes, former BitMEX CEO and a major crypto whale, has started selling large portions of his portfolio as the market continues to tumble. On-chain data shows he offloaded millions’ worth of ETH, ENA, LDO, AAVE, UNI, and ETHFI within hours, signaling a cautious shift as altcoins hit extreme lows.

Glassnode reports that only 5% of major altcoins remain in profit, highlighting deep capitulation across the sector. Bitcoin is the only asset holding relative stability, but even its profitability has begun to decline.

Market analyst Nic Carter argues that crypto’s current downturn is not caused by scandals or collapses — but by a lack of attention and real utility. With AI and tech giants capturing investor interest, crypto has lost momentum and must now prove its value to regain relevance.

Hayes’ actions reflect this shift: hype cycles no longer move markets, and fundamentals matter more than ever. For traders, the message is clear — utility, demand, and real use cases will decide which projects survive, while speculative altcoins continue to struggle.

Despite feeling like the “forgotten child” of 2025, crypto isn’t finished. True recovery will only begin once meaningful products and real-world adoption return to the spotlight.