BitMEX founder Arthur Hayes has reportedly despatched greater than $1 million price of the decentralized trade (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 (price $9.78 million) to a newly created handle. That handle subsequently despatched 41,000 GMX price $1.68 million to the centralized crypto exchanges Binance, OKX and Bybit, in response to EmberCN.
The analyst additionally says that the newly created handle possible belongs to the algorithmic digital asset buying and selling agency Wintermute.
“This newly created handle obtained gasoline 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 response to 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 12 months in the past, in response to CoinGecko.
GMX focuses on perpetual futures and goals to offer low swap charges and low-price affect buying and selling, in response to the challenge’s website. The GMX token is used for staking and governance.
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