Arthur Hayes’ $4M Aethir (ATH) Purchase Sparks Bull Market Surge

Published by

Zameer Attar

September 24, 2024

Arthur Hayes Predicts $1M BTC by 2028 as Bitcoin Price Breaks $95K

Former BitMEX CEO and co-founder, Arthur Hayes, has made waves in the crypto world once again. After selling millions of dollars worth of PENDLE tokens, Hayes turned his attention to Aethir (ATH), purchasing a substantial amount of the token from centralized exchanges (CEXs).

On September 23, 2024, on-chain analytics firm TheDataNerd revealed on X (formerly Twitter) that Hayes had acquired 14.55 million ATH tokens, valued at $951,000, through ByBit and OKX.

Read on to discover the full story and find out why everyone’s talking about Hayes’ latest investment.

Hayes Accumulates Over $4 Million in ATH

According to TheDataNerd, Hayes hasn’t just made a one-off investment. Over the past month, he has steadily accumulated a whopping 62.258 million ATH tokens, totaling $4.08 million, at an average price of $0.0655. Aethir is a project focused on building a scalable decentralized cloud infrastructure (DCI) for the gaming and AI industries.

Noticing Arthur Hayes’ interest in ATH tokens, Aethir posted on X, “Glad to see Hayes sharing positive sentiments about what we’re building at Aethir.”

Aethir (ATH) Price Analysis

Following Hayes’ significant purchase, ATH is now trading around $0.0642, marking a 2.5% price increase over the past 24 hours. However, trading volume dipped by 8% in the same period, suggesting reduced participation, possibly linked to the token’s smaller market capitalization. According to CoinMarketCap data, ATH has a current market cap of $260 million, with a total supply of 42 billion tokens.

Technical Analysis and Upcoming Levels

Despite the moderate price bump, technical analysis points to a potentially bullish outlook for ATH. The token is currently retesting its breakout level of $0.0617, which it breached on September 22, 2024. If ATH holds this level, analysts predict a possible 38% surge, which could push the price to $0.089 in the near future.

Although ATH is not yet available on prominent exchanges like Binance, Coinbase, or Kraken, community support for the token remains overwhelmingly positive. Recent data reveals that 90% of community members are bullish on ATH, while only 10% hold a bearish outlook.

Your thoughts? Will Hayes’ investment in ATH drive the token to new heights?

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.