A wallet tracked as belonging to BitMEX co-founder Arthur Hayes purchased 1,332.5 ETH worth about $2.53 million early Tuesday, extending a fresh accumulation run as ether traded near $1,900.
Lookonchain flagged the purchase roughly three hours after the transaction. The implied acquisition price was about $1,899 per ETH. Hayes had not publicly confirmed the trade at publication.
The same tracker recorded a 1,293 ETH purchase worth $2.48 million on July 15. The two transactions added 2,625.5 ETH for approximately $5.01 million at an average price near $1,908.
Hayes also received 646.33 ETH worth about $1.24 million from Galaxy Digital around the earlier purchase, after sending $1.25 million USDC to FalconX. That transfer was separate from the two Lookonchain purchases included in the $5.01 million total.
Purchases Follow June Ethereum Sale
The buying reverses part of a June reduction in Hayes’ Ethereum exposure. A wallet attributed to him sold 6,000 ETH and realized a reported $606,000 loss after accumulating the tokens at an average price near $1,793.
Hayes had added Ethereum through institutional counterparties before that sale. A June transfer brought 1,500 ETH from Cumberland into the tracked wallet, following a separate 3,000 ETH movement from Flowdesk.
The latest purchases were executed above the June sale price, with both July transactions carrying an implied entry above $1,900.
Ether Buying Extends Beyond Hayes
Corporate Ethereum demand continued alongside Hayes’ transactions. Tom Lee’s BitMine reported 5.78 million ETH in its treasury after its latest weekly purchase, although the company’s additions slowed to 7,430 ETH as it repurchased 5.5 million BMNR shares.
Hayes said in an August 2025 interview that ether could trade between $10,000 and $20,000 before the end of the market cycle, tying the target to expanding global liquidity and stronger institutional demand. The forecast was not issued alongside the latest wallet activity.