BitMEX founder Arthur Hayes has reportedly despatched greater than $1 million value of the decentralized alternate (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 biggest private handle for GMX holders since 2022.
On Sunday, the BitMEX founder transferred all his 237,000 GMX (value $9.78 million) to a newly created handle. That handle subsequently despatched 41,000 GMX value $1.68 million to the centralized crypto exchanges Binance, OKX and Bybit, in keeping with EmberCN.
The analyst additionally says that the newly created handle probably belongs to the algorithmic digital asset buying and selling agency Wintermute.
“This newly created handle obtained fuel 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 mean value of $45 per token, in keeping 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 almost one yr in the past, in keeping with CoinGecko.
GMX focuses on perpetual futures and goals to supply low swap charges and low-price impression buying and selling, in keeping with the mission’s website. The GMX token is used for staking and governance.
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