Why does Old Hei have so much confidence in $UNI ?
Arthur Hayes sold ETH from 16,000 coins down to a little over 3,000. The money didn’t leave—he rotated it all into DeFi.
On December 20 last year, he publicly said: rotating from ETH into high-quality DeFi tokens, they can outperform the broader market when fiat liquidity improves.
All he bought were yield-generating protocols that had fallen by 80% to 90%: #PENDLE , LDO, ENA, and ETHFI (Lookonchain on-chain monitoring, December). But with the arrival of this bear market, they have gradually also exited with losses.
The logic is three layers: when liquidity is abundant, high-beta has bigger upside; the deeper the drop, the better the odds; and these protocols have real cash flow.
As this cycle got underway, in September this year he extended the thesis to UNI—after the fee switch was activated, governance tokens turned into cash-flow assets. An OTC deal took 320,000 UNI over five days, with an average cost of 6.94U.
$ETH $UNI —personal research notes, not investment advice
Arthur Hayes sold ETH from 16,000 coins down to a little over 3,000. The money didn’t leave—he rotated it all into DeFi.
On December 20 last year, he publicly said: rotating from ETH into high-quality DeFi tokens, they can outperform the broader market when fiat liquidity improves.
All he bought were yield-generating protocols that had fallen by 80% to 90%: #PENDLE , LDO, ENA, and ETHFI (Lookonchain on-chain monitoring, December). But with the arrival of this bear market, they have gradually also exited with losses.
The logic is three layers: when liquidity is abundant, high-beta has bigger upside; the deeper the drop, the better the odds; and these protocols have real cash flow.
As this cycle got underway, in September this year he extended the thesis to UNI—after the fee switch was activated, governance tokens turned into cash-flow assets. An OTC deal took 320,000 UNI over five days, with an average cost of 6.94U.
$ETH $UNI —personal research notes, not investment advice
