BitMEX co-founder Arthur Hayes becomes active in the memecoin market, promoting top tokens like Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG).
In an exciting development, the popular crypto stakeholder has taken to X to express optimism about memecoins, emphasizing that the time is right for their breakout.
“I respect my $MOTHER, I $MOG like no one else, but I can’t neglect $PEPE,” Hayes remarked.
Hayes Purchases 24.39B PEPE on Binance
Interestingly, the BitMEX co-founder had matched his words with action by purchasing $250,000 worth of PEPE on Binance earlier. Data from blockchain analytics platform Arkham Intelligence shows that Hayes first moved $1 million worth of USDC to Binance earlier today at 06:40 a.m. (UTC).
An hour later, he withdrew 24.39 billion PEPE tokens worth $252,680 from Binance. This indicates that Hayes recently purchased the tokens from Binance shortly after transferring $1 million USDC to the exchange.
BitMEX Founder Transfers 8M MOG Between His Wallets
Following the transaction, Hayes received 8 million MOG tokens ($12.72) from one of his crypto wallets. At press time, the wallet holding Hayes’ 24.39 billion PEPE is valued at $4.83 million. Notably, PEPE is the portfolio’s third-biggest token by dollar value, while MOG is ranked in the 11th spot.
This blockchain address does not hold any MOTHER token at the time of writing. However, he may own MOTHER and more PEPE and MOG assets in his other wallets.
His Support for Memecoins
Prior to placing a bet on memecoins, Hayes has been supportive of meme-based tokens. During an interview in March, the BitMEX co-founder warned people against writing off memecoins as valueless and stupid.
According to him, these tokens can bring real value to the blockchain sector through new users and attention. He emphasized that any blockchain capable of fostering the memecoin culture will benefit immensely from the attention these assets could generate, highlighting Ethereum and Solana as major beneficiaries.
Given his comments, it is not surprising that he will commit some funds to memecoins.
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