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Cryptocurrency News Articles
BitMEX Co-Founder Arthur Hayes Becomes Active in the Memecoin Market, Promoting Top Tokens Like Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG)
Sep 27, 2024 at 09:48 pm
In an exciting development, the popular crypto stakeholder has taken to X to express optimism about memecoins, emphasizing that the time is right for their breakout.
BitMEX co-founder Arthur Hayes has made headlines once again with his recent activity in the memecoin market. In a surprising move, Hayes has shown support for several top memecoins, including Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG).
Taking to X, the crypto stakeholder expressed optimism about memecoins, emphasizing that the time is right for their breakout.
“I respect my $MOTHER, I $MOG like no one else, but I can’t neglect $PEPE,” Hayes remarked.
Notably, Hayes has also put his money where his mouth is, having purchased $250,000 worth of PEPE on Binance earlier.
According to data from blockchain analytics platform Arkham Intelligence, Hayes first moved $1 million worth of USDC to Binance earlier today at 06:40 a.m. (UTC). An hour later, he withdrew 24.39 billion PEPE tokens— valued at $252,680— from Binance.
This indicates that Hayes likely purchased the tokens from Binance shortly after transferring $1 million USDC to the exchange.
Continuing his crypto transactions, Hayes later received 8 million MOG tokens ($12.72) from one of his crypto wallets. At press time, the wallet holding Hayes’ 24.39 billion PEPE is valued at $4.83 million. Interestingly, PEPE is the portfolio’s third-biggest token by dollar value, while MOG is ranked in the 11th spot.
It's worth noting that the wallet does not hold any MOTHER token at the time of writing. However, Hayes may own MOTHER and more PEPE and MOG assets in his other wallets.
Prior to placing a bet on memecoins, Hayes has shown support for meme-based tokens on several occasions. During an interview in March, the BitMEX co-founder notably warned people against writing off memecoins as valueless and stupid.
According to him, these tokens can bring real value to the blockchain sector through new users and attention. He emphasized that any blockchain capable of fostering the memecoin culture will benefit immensely from the attention these assets could generate, highlighting Ethereum and Solana as major beneficiaries.
Given his comments, it is not surprising that he will eventually commit some funds to memecoins.
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