Connect with us
DAPA Banner

Crypto World

Arthur Hayes bets on ETHFI token, can it breakout?

Published

on

ETHFI token has broken out of a descending trendline resistance on the daily chart.

Arthur Hayes, a veteran trader and co-founder of BitMEX, has once again placed a bet in ETHFI nearly a month after a possible exit from the token.

Summary

  • Arthur Hayes re entered ETHFI with a $72,800 purchase shortly before Upbit announced a KRW listing, drawing attention to the timing of the move.
  • ETHFI price briefly surged nearly 12% following the listing before retracing, highlighting volatility tied to exchange driven catalysts.
  • Technical signals remain mixed, with a breakout above trendline resistance suggesting upside potential, while MACD and RSI indicate lingering bearish pressure.

According to a March 19 X post by on-chain tracker Lookonchain, Hayes invested around 132,730 ETHFI tokens worth $72,800 today. The tokens were received from Anchorage Digital at an average price of $0.55 each.

While such transfers are common for institutional players, the report highlighted the significance of the timing of the purchase. It revealed that the transfer from Anchorage Digital happened just five hours ahead of a KRW market listing for the token by South Korea’s largest crypto exchange, Upbit.

Advertisement

Typically, a KRW listing on Upbit has often acted as a major catalyst for crypto assets. As reported by crypto.news earlier, CPOOL, the native token of the DeFi institutional credit protocol Clearpool, soared over 70% in a single day following a similar listing. However, the token later gave up a portion of those gains as profit-taking set in.

Lookonchain added another twist to the development. Notably, Hayes had transferred 2.15 million ETHFI tokens worth around $1 million out of his wallet a month ago, likely exiting from the position.

The latest receipt of ETHFI tokens could likely mark a potential re-entry into the token, though at a much smaller scale than when Hayes previously exited the position. Hayes has also historically rotated capital across DeFi tokens, including PENDLE, LDO, ENA, and ETHFI, depending on market conditions.

Advertisement

Ether.Fi (ETHFI) shot up nearly 12% to $0.60 within an hour after Upbit listed the token. It, however, retraced back to around $0.54 at press time, down 2.3% over the past 24 hours.

On the daily chart, ETHFI price has broken out of a descending trendline that had been acting as dynamic resistance for the token following its decline since early October. A sharp breakout from the pattern typically signals a potential trend reversal and opens the door for further upside if supported by volume.

ETHFI token has broken out of a descending trendline resistance on the daily chart.
ETHFI price has broken out of a descending trendline resistance on the daily chart — March 19 | Source: crypto.news

Technical indicators like the MACD and the RSI also suggest mixed momentum. Notably, the MACD lines were still pointing downwards, indicating lingering bearish pressure, while the RSI hovered near the neutral zone, reflecting indecision among traders.

For now, $0.649 would be the key resistance level traders would be keeping an eye on. A break above that could strengthen bullish momentum and push the price toward higher levels.

On the contrary, $0.500 would be the key support level. A drop below that could lead to a retest of the Feb. 6 low of $0.381.

Advertisement

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Advertisement

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Gemini Q4 Revenue Lifts Shares Despite Weaker Crypto Markets

Published

on

Gemini Q4 Revenue Lifts Shares Despite Weaker Crypto Markets

Shares in crypto exchange Gemini surged after hours as stronger-than-expected fourth-quarter results showed revenue growth driven by credit card adoption and a reworked fee structure.

Gemini reported on Thursday that its Q4 revenues rose 39% from the year-ago quarter to $60.3 million, reportedly beating analyst expectations of $51.7 million.

It reported a net loss of $140.8 million for Q4, deepening from its $27 million loss from a year ago. Gemini posted a total 2025 loss of $585 million, ahead of its total 2024 losses of $156.6 million.

Gemini co-founders Cameron and Tyler Winklevoss said in a shareholder letter that Q4 was the company’s highest quarterly revenue in three years, even with trading volumes declining, the revenue gain was reflective of “deliberate fee structure work through the back half of the year.”

Advertisement

Shares in Gemini (GEMI) initially jumped 14% after hours on Thursday to a high of $6.83, but settled at $6.36 for a gain of 5.8% after ending the trading day flat at around $6.

Shares of crypto exchange Gemini rose after hours. Source: Google Finance 

The results are Gemini’s second after going public in September and came amid a broad crypto market decline in late 2025, which saw Bitcoin (BTC) rapidly decline from its all-time peak above $126,000 in October. 

Gemini lays off 30% of staff so far this year

In February, Gemini said it was withdrawing from the UK, the EU and Australia, citing challenging market conditions. The company also planned to lay off 25% of its workforce, in part due to artificial intelligence.

In their letter, Cameron and Tyler Winklevoss said Gemini had reduced its workforce by “roughly 30% since the start of 2026,” citing an increased use of AI.

“Today, AI is used in more than 40% of our production code changes and we expect that number to climb to close to 100% in the not-too-distant future,” they said. “Not using AI at Gemini will soon be the equivalent of showing up to work with a typewriter instead of a laptop.”

Advertisement

The Winklevoss brothers said the company’s plan this year was to “focus and double down on America,” adding they were encouraged by the pro-crypto stance of US market regulators. 

Prediction markets and credit card key 2026 priorities 

Gemini launched its in-house prediction market, Gemini Predictions, across all 50 US states in December, shortly after it obtained a license from the Commodity Futures Trading Commission.

Related: Gemini bets on ‘super app’ as stock sinks to record low on Q3 results

The company said it would refine and expand its prediction market offering and also scale its credit card and exchange.

Advertisement

The Winklevoss brothers said Gemini would “shift into becoming a markets company with Gemini Predictions” and use that infrastructure for its perpetual futures contracts once they’re approved in the US.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?