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Cryptocurrency News Articles
Arthur Hayes Makes Headlines with a Hefty Investment in Crypto Meme Tokens
Sep 27, 2024 at 06:01 pm
In a bold move today, Arthur Hayes, the co-founder and former CEO of popular crypto exchange BitMEX, made headlines with a significant investment in crypto meme tokens
Crypto exchange BitMEX co-founder and former CEO Arthur Hayes made headlines on Thursday with a large investment in crypto meme tokens, further demonstrating his faith in the speculative digital asset sector.
Earlier, Hayes expressed optimism in the future performance of meme tokens, a category of highly volatile cryptocurrencies that have gained popularity among crypto enthusiasts and traders. Following his tweet on the X platform, he proceeded to purchase $250,000 worth of PEPE via the Binance crypto exchange.
Arthur Hayes(@CryptoHayes) is calling for #MEMEcoins $MOTHER, $MOG and $PEPE!
On-chain data shows that he withdrew 24.39B $PEPE($252.68K) from #Binance 20 minutes ago.
Address:
0x6cd66dbdfe289ab83d7311b668ada83a12447e21
pic.twitter.com/MC9ZPF2Eg4
In addition to buying PEPE, the BitMEX co-founder also increased his position in another crypto token, ATH. He purchased an additional 23.48 million ATH tokens, which are valued at about $1.5 million. This brings his total investment in ATH to around $7.5 million since he began accumulating the cryptocurrency on 15 Aug. According to on-chain data, Hayes has been buying ATH at an average price of $0.0645.
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However, meme coins are not considered better investment assets for the long term, but currently, the crypto market is active with a large number of meme tokens trend.
In February of this year, meme tokens started to gain popularity, and thousands of meme tokens emerged on the Solana blockchain network.
For example, PEPE, which is inspired by the internet meme “Pepe the Frog,” gained massive traction in the crypto world shortly after its launch, even though it has little to no utility beyond its entertainment value.
This year, the majority of crypto influencers either launched their own meme token or promoted and backed tokens that were essentially useless. Because of the large influx of capital into meme tokens, the trade prices of top flagship crypto assets, such as Bitcoin and Ether, both experienced a significant slowdown in terms of price increases and money inflow.
https://t.co/GRJybE3y0X
Beware Of #Solana Meme Tokens Manipulated High Trade Volume: Scam Alert
Read also: Bitcoin Soars to $65K: $70K coming! as Binance Co-Founder CZ Prepares for Release!
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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- Arthur Hayes Shifts Focus to Memecoin $PEPE After $ATH, Deposits $1M in USDC into Binance and Withdraws 24.39B $PEPE ($252K) to His Wallet (0x6cd)
- Sep 27, 2024 at 09:05 pm
- Arthur Hayes, co-founder of BitMEX, has recently shifted his focus to the memecoin $PEPE. He deposited $1 million in USDC into Binance, subsequently withdrawing approximately 24.39 billion $PEPE, valued at around $252,000, to his wallet (0x6cd). This marks his first significant engagement with $PEPE, according to data from Spot On Chain.
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