Techub News reported that Arthur Hayes, the former CEO of BitMEX, recently moved 6,000 Ether from a private wallet to FalconX and Galaxy Digital. The transfer was valued at about $10.41 million according to the figures cited in the report. On-chain monitoring described large transfers of this type as a pattern that usually points to selling intent, placing the transaction within the scope of whale movement tracking.
Exchange reserves have risen since June 5
The report also referenced Hayes’ earlier trading activity on June 4, when he cleared positions in HYPE and NEAR. Both tokens fell after that liquidation, according to the same news item. The latest ETH movement therefore comes with renewed attention on his wallet activity, while the report did not state that the 6,000 ETH had already been sold after reaching FalconX and Galaxy Digital.
AMBCrypto data cited by Techub further showed that Ethereum exchange reserves have increased by about $2.62 billion since June 5. The rise was described in the source item as evidence that broader selling pressure in the market is increasing, alongside Hayes’ large ETH transfer.