- Arthur Hayes bought 1.9 million ETHFI tokens for $1.17 million, re-entering four months after selling at a loss.
- Hayes paid $0.62 per ETHFI after selling 265,461 tokens at $0.44 in April, marking a 41% higher re-entry price.
- ETHFI gained 25.3% in a week as exchange outflows increased, with the token trading near $0.631 at press time.
Arthur Hayes has bought back 1.9 million ETHFI tokens worth $1.17 million, four months after selling part of his position at a loss. Lookonchain reported the purchase about four hours after it settled, showing Hayes paid $0.62 per token. His earlier sale involved 265,461 ETHFI at $0.44 in April.
Hayes Re-enters After Selling at $0.44
The latest purchase puts Hayes’ new entry about 41% above his April sale price. Lookonchain described the move as another example of selling low and buying higher. ETHFI has gained 25.3% over the past week during a wider crypto market advance. However, the token remains about 93% below its March 2024 record of $8.53.
The price action also coincides with changing exchange flows. ETHFI climbed from roughly $0.37 to $0.40 on Aug. 12 before moving above $0.50. The token later accelerated around Aug. 20 and Aug. 21, reaching approximately $0.60 to $0.64.
ETHFI Exchange Flows Turn More Volatile
Meanwhile, exchange netflows showed larger movements as the price advanced. One major inflow reached about $65,000 on Aug. 21. That movement placed more ETHFI onto spot exchanges, where tokens can become available for trading.
However, the largest recorded move came on Aug. 22. Netflow fell to approximately negative $630,000, marking a substantial ETHFI outflow from exchanges. Further outflows followed on Aug. 23, including one near $450,000.
At press time, ETHFI traded near $0.631, up 11.1% over 24 hours. Its market capitalization stood at $649.7 million, ranking 92nd.
Hayes’ Trading Record Includes Other ETHFI Losses
The latest purchase follows losses recorded across wallets linked to Hayes. A review of three attributed wallets found $2.47 million in losses across 124 trades. Those trades covered December 2023 through August 2026.
ETHFI accounted for $474,000 of the recorded losses during that period. Meanwhile, Ethena’s ENA was the only profitable position among the reviewed trades. That position generated a reported $3.23 million gain.
Hayes’ current ETHFI position sits near $0.62, while recent prices remain slightly above that entry. Key support levels include $0.60, $0.55 and $0.50. Resistance remains near $0.64 to $0.65, while $0.70 represents the next level identified in the supplied market data.
