Ethereum Updates Today: Arthur Hayes Sells $2.5M—Are Institutions Seeing a Profit Opportunity?

Arthur Hayes, previously the CEO of BitMEX, recently carried out a notable on-chain sale, offloading 520

, 2.62 million tokens, and 132,730 tokens, with the total transaction value reaching about $2.52 million. Blockchain analytics services Lookonchain and Intelligence tracked the sale, which took place roughly four hours before a public announcement on November 16, 2025. The details indicate average prices of $3,192 per ETH, $0.28 for each ENA, and $0.93 per ETHFI, with accounting for .

This sale has prompted discussions about its possible effects on the market. As Ethereum is already experiencing volatility, Hayes' move—often interpreted as a reflection of institutional strategies—could indicate profit-taking or a shift in portfolio allocation, potentially putting short-term pressure on prices. Market participants are closely watching major support zones, especially the $3,000 mark, which has

. Should this transaction spark wider selling, ETH may challenge resistance near $3,500, creating scenarios for bearish trades. that large-scale ETH liquidations usually result in brief declines, with prices often rebounding within one to two days if institutional buyers return.

ENA and ETHFI, both associated with DeFi platforms, are also facing immediate selling pressure. The sale of 2.62 million ENA at $0.28 each and 132,730 ETHFI at $0.93 per token represents significant supply that could weigh on short-term valuations. ENA, which is part of Ethena’s stablecoin network, typically trades between $0.25 and $0.35, while ETHFI’s price movement tends to mirror ETH, often with greater swings.

that trading activity for ENA/USDT and ETHFI/USDT pairs jumped by 10–20% following the news, indicating increased market engagement.

Looking at the broader picture, Hayes’ actions may be influenced by macroeconomic trends or regulatory developments.

remains strong, with open interest in futures surpassing $10 billion, which could help absorb the effects of the sale. Retail investors are encouraged to use technical tools like RSI and MACD to identify overbought signals after such liquidations. it could point to continued bullish momentum, while a drop below $2,900 might support short strategies.

Sentiment analysis shows that major holders are taking a cautious approach, as Hayes’ sale comes at a time when ETH’s year-to-date gains have exceeded 50%. On-chain metrics for ENA and ETHFI indicate rising transfer activity, suggesting ongoing community involvement despite the recent sell-off. For traders, strategies involving perpetual futures or relative value trades—such as ETH/ENA pairs—may be attractive if Ethereum continues to outperform other altcoins in the near future.