The post Arthur Hayes Sees $40K Loss as PEPE Token Value Drops in Recent CEX Transfer appeared on BitcoinEthereumNews.com.

On October 3, as disclosed by COINOTAG, market data tracked by Ember highlighted a financial maneuver by Arthur Hayes, co-founder of BitMEX. Hayes, exhibiting an optimistic stance towards emerging meme tokens, acquired substantial quantities of PEPE and MOG on September 27. His investment included $250,000 for 24.39 billion PEPE tokens and an equivalent amount for 167.51 billion MOG tokens. Recently, a transfer of these assets to a centralized exchange (CEX) was noted, coinciding with a valuation decline, putting their combined worth at $460,000. This represents a notable depreciation from the initial investment, suggesting a potential paper loss of $40,000 if liquidated. Such strategic movements in the cryptocurrency sphere underscore the volatility and risk inherent in digital asset trading, reinforcing the importance of meticulous market analysis. Source: https://en.coinotag.com/breakingnews/arthur-hayes-sees-40k-loss-as-pepe-token-value-drops-in-recent-cex-transfer/

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Filed under: News - @ October 3, 2024 1:12 am