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

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  • 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.
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