Ethereum Price Drops as Hayes Sells $22.3M and Exchange Outflows Surge

• Ethereum price faces mixed signals as Arthur Hayes closes Maelstrom’s directional trades, with reported token sales totaling $22.28 million
• Santiment reported 169,770 ETH in net exchange outflows, the largest daily withdrawal in over four months
• A hypothetical $3,000 ETH purchase at $2,363.64 would reach $6,277.67 if Ethereum revisited its $4,946.05 record

Arthur Hayes is taking profits, an early Ethereum holder is moving coins to Kraken, and other investors are withdrawing ETH from exchanges at an unusually fast pace. Those moves leave Ethereum’s price facing competing signals near $2,400. Hayes has made his preference clear that he wants to wait out the uncertainty. The harder question is whether the withdrawal of coins from trading platforms gives buyers enough support to absorb the selling already taking place.

Also Read: Apple Briefly Tops Nvidia as iPhone Duo Launches and Sell Signal Flashes

Ethereum Price Faces Selling as Arthur Hayes Closes Trades

Hayes said on October 24 that he had closed Maelstrom’s directional trading book, taking profits on ETH, ENA, UNI and other tokens. He cited macroeconomic and geopolitical uncertainty and said he would remain on the sidelines while waiting for conditions to improve.

Lookonchain reported approximately $22.28 million in token disposals, including 6,400 ETH worth $15.2 million. The tracker also listed 14 million ENA valued at $2.76 million and 323,000 UNI worth $2.24 million. The $22.28 million figure covers several assets, rather than Ethereum alone.

A separate ETH whale also drew attention. According to Lookonchain, an ICO participant who originally bought 100,000 ETH at $0.31 each moved another 1,000 ETH to Kraken. The tracker described the transaction as selling, although an exchange deposit alone does not establish when or at what price a trade was executed.

Also Read: Amazon CEO Says 2027 AWS Capacity Largely Booked as BofA Keeps Microsoft’s $600 Target

Large Exchange Withdrawals Take the Spotlight

The wider exchange-flow picture points in another direction. Santiment reported roughly 169,770 ETH in net exchange outflows, the largest daily withdrawal in more than four months.

Withdrawals can reduce the coins immediately available on trading platforms. They can also reflect custody changes or transfers into decentralized applications, so the figure should not automatically be read as fresh buying. It measures a different activity from Hayes’s decision to close positions.

At the $2,363.64 ETH price used in MarketCapOf’s crypto profit calculator, Ethereum remains roughly 52.2% below its $4,946.05 all-time high. A hypothetical $3,000 investment at that entry price would reach $6,277.67 if ETH returned to the record, producing $3,277.67 in profit, or 109.26%.

That calculation points to the distance to the previous peak. The immediate test is much closer. It is whether Ethereum can recover $2,400 while prominent holders are choosing to cash out.

Also Read: American Express Stock Slides Despite Profit Beat as 5% Job Cuts Loom