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- In accordance with Lookonchain, Arthur Hayes deposited 18.1 million LOOKS to OKX on Thursday.
- Hayes purchased 15.5 million LOOKS from Uniswap and FTX, between June 3 and November 3, 2022.
- Lookonchain famous that promoting right now would see Hayes lose practically $2.87 million.
In accordance with the smartmoney on-chain platform, Lookonchain, Arthur Hayes, the co-founder of BitMEX, deposited 18.1 million LooksRare (LOOKS) tokens, equal to $1.63 million, on OKX on Thursday, December 21. In a latest publish on X (previously Twitter), the smartmoney platform famous that the BitMEX co-founder purchased 15.5 million LOOKS, equal to $4.5 million from Uniswap and FTX, between June 3 and November 3, 2022.
The common worth of Hayes’ LOOKS purchases over the acknowledged interval was $0.29 per token. In accordance with Lookonchain, promoting right now would see the investor lose practically $2.87 million, translating to a 64% loss on the funding.
Final February, Lookonchain offered a breakdown of Hayes’ LOOKS purchases, recognizing him as the most important particular person LOOKS handle holder. The blockchain analytics platform famous that he held 17 million LOOKS value $5.14 million. Additional particulars confirmed that Hayes purchased 10.68 million LOOKS utilizing 1,786 ETH between August 24 and November 3, 2022, at an estimated value of $2.76 million, when LOOKS offered for $0.258 on common.
Lookonchain additionally reported that Hayes obtained 4.82 million LOOKS value $1.67 million from FTX in June 2022, when the token offered at a median worth of $0.347. Therefore, the analytics platform initiatives that if Hayes’ LOOKS switch to OKX is to promote, he would file a big loss. The worth of the loss is calculated utilizing LOOKS’ worth as of at this time, in comparison with the typical worth of Hayes’ purchases. At press time, LOOKS offered for $0.0902, in accordance with information from TradingView.
Lookonchain’s suspicion that Hayes would possibly wish to promote his LOOKS holding stems from the belief that when buyers switch crypto tokens to centralized exchanges, it’s to deliver them into an atmosphere for simple promoting or alternate for fiat or different crypto belongings.
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