Arthur Hayes’s Big Bet on Aethir (ATH)
After selling millions of dollars worth of PENDLE tokens, Arthur Hayes, the ex-CEO and co-founder of BitMEX, has made a substantial investment in Aethir (ATH) tokens from centralized exchanges (CEXs). On September 23, 2024, the on-chain analytics firm TheDataNerd reported on X (formerly Twitter) that Hayes had purchased 14.55 million ATH tokens, worth $951K, from ByBit and OKX.
Arthur Hayes’s Accumulation of ATH Tokens
In addition to the recent purchase, TheDataNerd revealed that over the past month, Hayes has accumulated a significant 62.258 million ATH tokens, worth approximately $4.08 million at an average price of $0.0655. Aethir is spearheading the development of a scalable decentralized cloud infrastructure (DCI) tailored for gaming and artificial intelligence (AI). Recognizing Hayes’ interest, Aethir expressed their appreciation on X, stating, “Glad to see Hayes sharing positive sentiments about what we’re building at Aethir.”
Aethir (ATH) Current Price Momentum
Following this significant purchase, ATH is currently trading near $0.0642 and has experienced a price surge of over 2.5% in the past 24 hours. However, during the same period, its trading volume dropped by 8%, indicating lower participation, likely due to its low market cap. According to data from CoinMarketCap, ATH’s current market cap stands at $260 million, with a total supply of 42 billion ATH tokens.
Technical Analysis and Upcoming Levels
Expert technical analysis suggests that ATH is showing bullish signs and is currently retesting its breakout level of $0.0617, which occurred on September 22, 2024. If ATH successfully holds this breakout level, there is a strong possibility it could surge by 38% to reach the $0.089 level in the coming days.
Source: Trading View
Community Sentiment and Exchange Availability
Despite its absence from major exchanges like Binance, Coinbase, and Kraken, community sentiment around ATH remains extremely high. According to recent data, 90% of community members are bullish on ATH, while only 10% are bearish. This positive sentiment reflects the growing interest and confidence in Aethir’s potential to revolutionize the gaming and AI industries with its decentralized cloud infrastructure.
Conclusion
Arthur Hayes’s substantial investment in Aethir (ATH) tokens highlights the growing interest and potential in decentralized cloud infrastructure for gaming and AI. With a promising technical outlook and strong community support, ATH is a token to watch in the coming days. As the market continues to evolve, keeping an eye on major developments and price movements will be crucial for potential investors.
