Arthur Hayes, the former CEO and co-founder of BitMEX, recently made a significant investment in Aethir (ATH) tokens after selling off millions of dollars worth of PENDLE tokens. On September 23, 2024, TheDataNerd, an on-chain analytics firm, reported that Hayes had purchased 14.55 million ATH tokens, totaling $951K, from centralized exchanges ByBit and OKX.
Over the past month, Hayes has been steadily accumulating ATH tokens, amassing a total of 62.258 million tokens valued at $4.08 million at an average price of $0.0655. Aethir is a project focused on developing a decentralized cloud infrastructure for gaming and AI applications.
Aethir took to X (formerly known as Twitter) to express their appreciation for Hayes’ interest in their project, stating, “Glad to see Hayes sharing positive sentiments about what we’re building at Aethir.”
Following Hayes’ substantial purchase, the price of ATH is currently trading around $0.0642, with a 2.5% increase in the past 24 hours. Despite the price surge, trading volume has decreased by 8%, likely due to the token’s relatively low market cap. As per coinmarketcap data, the current market cap of ATH stands at $260 million, with a total supply of 42 billion tokens.
Technical analysis suggests that ATH is in a bullish trend and is currently testing a breakout level of $0.0617, which was established on September 22, 2024. If the token successfully maintains this level, experts believe it could potentially surge by 38% to reach $0.089 in the near future.
Although ATH is not listed on major exchanges like Binance, Coinbase, or Kraken, community sentiment towards the token remains overwhelmingly positive. Recent data indicates that 90% of community members are bullish on ATH, while only 10% hold a bearish outlook.
In conclusion, Arthur Hayes’ recent investment in Aethir tokens highlights his confidence in the project’s potential within the decentralized cloud infrastructure space. With a strong technical outlook and positive community sentiment, ATH could be poised for further growth in the coming days.