BitMEX founder Arthur Hayes has reportedly despatched greater than $1 million value of the decentralized trade (DEX) altcoin GMX (GMX) to centralized exchanges.
Pseudonymous on-chain analyst EmberCN tells their 79,700 followers on the social media platform X that Hayes had managed the most important private tackle for GMX holders since 2022.
On Sunday, the BitMEX founder transferred all his 237,000 GMX (value $9.78 million) to a newly created tackle. That tackle subsequently despatched 41,000 GMX value $1.68 million to the centralized crypto exchanges Binance, OKX and Bybit, in accordance with EmberCN.
The analyst additionally says that the newly created tackle doubtless belongs to the algorithmic digital asset buying and selling agency Wintermute.
“This newly created tackle acquired gasoline from Wintermute, so it ought to belong to Wintermute. [Hayes’] GMX might be entrusted to Wintermute on the market or OTC (over-the-counter) [trade].”
Crypto analytics agency Arkham confirms Hayes’s abrupt switch of GMX tokens.
Hayes held the GMX at a median price of $45 per token, in accordance with EmberCN. The 225th-ranked crypto asset by market cap is buying and selling at $41.54 at time of writing and is down greater than 54% from its all-time excessive of $91.07, which it set practically one yr in the past, in accordance with CoinGecko.
GMX focuses on perpetual futures and goals to supply low swap charges and low-price affect buying and selling, in accordance with the challenge’s web site. The GMX token is used for staking and governance.
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