Ethereum Could Lead the Next Bull Market: Is Hayes Preparing with More Buys?
Arthur Hayes bought another 1,332.5 ETH ($2.53 million) today, according to on-chain tracking data shared on X.The purchase extends a buying streak from the BitMEX co-founder. It also renews attention on Ethereums institutional demand story. Hayes sold 6,000 ETH at a roughly $606,000 loss in June. He then reversed course with a series of buybacks in July as some discuss Ethereums role in the next bull run for crypto. Hayes Extends a Pattern of ETH Accumulation The latest purchase follows Hayes return to Ethereum earlier this month. He acquired roughly 1,939 ETH then across two OTC-style transactions. That reversal came weeks after his June exit. Critics have flagged Hayes record of praising tokens like HYPE, ZEC, and WLD before quietly exiting those positions. Ether trades at $1,906, up 1.74% over 24 hours, with a market capitalization over $230 billion. Ethereum has been climbing over the past month. Image Source: BeInCryptoSome See Institutional Demand Driving the Next Cycle With some larger accumulation and whale movement around ETH, some are noting a broader shift in Ethereum‘s bull case toward institutions. Bitmine Immersion Technologies Chairman Tom Lee argues that Wall Street adoption now drives Ethereum’s growth, not crypto-native speculation. He points to BlackRock‘s tokenized BUIDL fund and Robinhood Chain’s