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Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal

  • An address possibly linked to a BitMEX co-founder has received DeFi tokens worth $2.05 million.
  • The transaction involved 3,033 AAVE and 1.1253 million LIDO.
  • Flowdesk sent the assets, suggesting a potential over-the-counter purchase.

The altcoin narrative is gaining steam as Ethereum starts to outperform the markets.

ETH, SOL, and XRP surged up to 10% in the past 24 hours while the largest cryptocurrency by value remained calm above $118,600.

Amidst the shifting trends, crypto sleuths observed an interesting transaction linked to a wallet believed to be that of BitMEX co-founder Arthur Hayes.

The address received 3,033.14 AAVE and 1.1253 million LIDO, worth $2.05 million, from Flowdesk, a trading company.

This is more than an average transaction.

The timing, size, and parties involved have triggered debates within the cryptocurrency community.

Is Arthur Hayes accumulating DeFi blue chip tokens in anticipation of an imminent bull run?

Flowdesk’s role suggests an OTC deal

The source of the transferred assets added to the curiosity.

Flowdesk is known for handling massive transactions for wealthy individuals or institutions.

The fact that the wallets received the tokens directly from Flowdesk indicates an over-the-counter (OTC) deal.

This option allows the buyer to evade slippage and maintain privacy than using public exchanges.

Participants often opt for OTC deals to purchase or offload enormous amounts of digital assets without impacting market prices.

Moreover, individuals use over-the-counter to buy cryptocurrencies when preparing to hold them for the long term.

Why the two altcoins

The purchase wasn’t a random pick. AAVE and LIDO are among the most reputable DeFi tokens.

AAVE is among the earliest and most trusted lending protocols.

It is currently the second-largest business on the Ethereum blockchain, according to total value locked, surpassing Circle the previous week.

Aave’s multi-chain plans and upcoming V4 upgrade continue to grab the community’s attention.

On the other side, Lido is a dominant player in the Ethereum staking ecosystem.

It allows individuals to stake Ether while providing liquidity via stETH.

The LIS (Lido Impact Staking) launched early this year to transform sustainable funding for social impact projects.

AAVE price outlook

The alt trades at $325 after gaining more than 10% in the past week.

While it reflects weakness after a 1.15% dip in the past day, possibly due to profit-taking, AAVE’s bullish structure remains intact.

Renowned crypto analyst Javon Marks predicts massive moves to $628, translating to an over 90% surge from the current price.

He believes AAVE could extend to $1,200 with broad market bull runs.

LDO set for 50% surge

Lido DAO’s native coin exhibited a bullish outlook after gaining more than 4.6% in the past day.

Its soaring daily trading volume signals magnified interest in the altcoin.

LDO trades at $0.9435 after a 20% surge in the past seven days.

It tests an immediate resistance level between $0.95 and $1.00, according to analyst CW.

The digital coin secured a reliable footing at $0.66 – $0.72, hinting at stable performances.

With the next sell wall at $1.4, LDO holders can brace for nearly 50% gains in the near term.

The prevailing crypto market sentiments support LDO and AAVE’s bullish trajectories.

The post Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal appeared first on CoinJournal.

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Ethereum price hits its six-month high on record ETF inflows

  • The strength in Ethereum has extended to the broader altcoin market.
  • The token had touched an intraday high of $3,463 earlier in the day.
  • The rally came as nine US-listed spot Ethereum ETFs saw their largest combined daily net inflow on record Wednesday.

Ethereum rallied sharply over the past 24 hours, breaking above $3,400 for the first time since mid-January as record inflows into spot Ether exchange-traded funds (ETFs) and rising institutional accumulation reinforced bullish sentiment.

Ether was trading at $3,436 early Thursday, up 8.4% in the past 24 hours.

The token had touched an intraday high of $3,463 earlier in the day.

The rally came as nine US-listed spot Ethereum ETFs saw their largest combined daily net inflow on record Wednesday, totalling $726.74 million, according to data from Farside Investors.

BlackRock’s iShares Ethereum Trust (ETHA) led the inflows with $499 million, followed by Fidelity’s FETH with $113 million.

That total surpasses the previous record of $428 million set on December 5, 2024 — a nearly 70% jump.

The surge in buying pushed total net inflows for July to $2.27 billion, making it the best month since the ETFs were launched a year ago.

US spot Ether ETFs now collectively hold over 5 million ETH — more than 4% of the circulating supply.

On Wednesday alone, ETFs absorbed nearly 107 times the ETH issued by the network, according to Ultra Sound Money.

Interest in ETH is up

Institutional interest is also being reflected in direct ETH holdings by corporate treasuries.

Strategic ETH Reserve data shows that treasuries now hold over $5.33 billion in ETH, equivalent to 1.33% of the total supply.

Over $1.6 billion worth of ETH was added by corporations in June alone.

One of the most aggressive buyers has been SharpLink Gaming, which purchased an additional $68 million worth of ETH in the past 24 hours.

Over the last eight days, the firm has acquired $343 million in ETH, according to blockchain analytics platform Lookonchain.

Separately, World Liberty Financial — a firm linked to US President Donald Trump — added another $5 million in ETH on Wednesday at a price of $3,266, above its historical average purchase range from November 2024 to March 2025.

BitMine Immersion Technologies, chaired by Fundstrat’s Tom Lee, disclosed that its ETH holdings have now exceeded $500 million.

Altcoin market follows ETH’s lead

The strength in Ethereum has extended to the broader altcoin market, with several tokens recording gains amid renewed risk appetite in crypto.

The current momentum in ETH — driven by a mix of spot ETF demand, treasury accumulation, and supply absorption — has positioned the asset for further upside, provided market conditions remain favorable.

In the past 24 hours, several major altcoins have outperformed Bitcoin, which posted a modest gain of just 0.7%.

XRP was one of the leaders of the rally with a sharp 7.6% rise, followed by Dogecoin, which climbed 6.9%.

Solana advanced 5.2%, BNB gained 3.4%, Tron rose 3.2%, and Cardano added 3.5%.

The post Ethereum price hits its six-month high on record ETF inflows appeared first on CoinJournal.

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Fartcoin targets $1.65 as Open Interest hits $1 billion

Key takeaways

  • FARTCOIN is up 19% in the last 24 hours and now trades above $1.4,
  • The coin is targeting the $1.65 high as open Open Interest hits $1 billion.

FARTCOIN surges 19% as memecoins continue to lead market charge

The cryptocurrency market has continued its explosive start this week, with memecoins leading the charge. FLOKI is the best performer among the top 100 cryptocurrencies by market cap, while other memecoins like DOGE, SHIB, BONK, TRUMP, and FARTCOIN are also in the green.

Fartcoin is up 19% in the last 24 hours, making it one of the top performers among the leading 100 cryptocurrencies. The rally allowed FARTCOIN to hit the $1.45 mark. Its rally is fueled by the Open Interest (OI) hitting $1 billion. Open Interest (OI) refers to the total value of open perpetual derivative contracts, serving as a direct indicator of traders’ interest. 

Data obtained from CoinGlass revealed that the Fartcoin Open Interest reached a new all-time high of $1.05 billion, up from $802.60 million on Wednesday. The rising Open Interest suggests growing interest in the memecoin and could push its price to new highs.

FARTCOIN eyes $1.65, with January high of $2.61 also in target

The FARTCOIN/USD 4-hour chart is extremely bullish and efficient thanks to the meme coin’s ongoing rally. The technical indicators also suggest that FARTCOIN could rally higher in the near term.

The Relative Strength Index of 62 shows that FARTCOIN could be heading into the overbought region if the buying spree continues. The MACD lines are also in the positive zone, suggesting a bullish bias.

FARTCOIN/USD 4H Chart

Fartcoin nears the 78.6% Fibonacci retracement level at $1.56, drawn from the $2.61 peak of January 19 to the low of $0.19 from March 10. If the daily candle closes above the $1.5 mark, FARTCOIN could surge past the $1.65 resistance level in the coming hours. However, it would need the help of the broader crypto market or growing institutional demand to rally towards the all-time high of $2.61. 

On the flipside, failure to build momentum around $1.5 could see FARTCOIN test the TLQ level at $1.18. The bulls would likely defend July’s low of $1.002 as it serves as a strong support for continuation.

The post Fartcoin targets $1.65 as Open Interest hits $1 billion appeared first on CoinJournal.