TLDR
- Arthur Hayes sold 96,628 HYPE tokens for $5.1M, earning a profit of $823K.
- HYPE fell 8.3% in 24 hours after Hayes confirmed his complete exit.
- Hayes cited future monthly token vesting of $500M as his reason for selling.
- Hayes joked the sale funds would help pay for his Ferrari Testarossa deposit.
BitMEX co-founder Arthur Hayes has sold his entire $5.1 million position in HYPE, just weeks after predicting a massive rally for the token. The move has drawn attention across the crypto market, especially after Hayes said the profits would go toward a deposit on a Ferrari Testarossa.
The sudden sale triggered a sharp drop in HYPE’s price, which fell over 8% in a single day, dipping below key support levels. Market data shows bearish pressure is building, and investors are reassessing the token’s near-term outlook.
Hayes Confirms Sale After Bullish Forecast
Arthur Hayes sold 96,628 HYPE tokens for about $5.1 million, according to on-chain data from Lookonchain. He made an estimated profit of $823,000, or around 19.2% above his entry price. This transaction occurred shortly after he claimed the token could see a 126x rise.
Hayes had shared this bullish outlook during a speech at the WebX Asia conference, where he pointed to Hyperliquid’s rising decentralized exchange revenues and stablecoin plans. Just weeks later, his complete exit has raised questions about the timing and motivations behind the sale.
In a post confirming the sale, Hayes said, “Gotta pay the deposit for the Ferrari Testarossa somehow.” The comment quickly spread on social media, drawing criticism and surprise from parts of the crypto community.
Market Reacts as HYPE Falls Below Support
HYPE dropped 8.3% in the 24 hours following the sale, according to CoinMarketCap. The token fell below its support range of $52–$53, and it is now trading around $49.9. This decline marked a pause in its recent upward trend, which had seen the token rise over 1,200% since late 2024.
Technical indicators support the bearish move. The MACD shows bearish divergence, and the RSI has moved closer to oversold territory. Analysts say high selling volume could result in a short relief rally, but broader price recovery depends on renewed buyer interest.
The price drop came even as the Hyperliquid ecosystem continued to grow. Native Markets was recently selected to manage the rollout of the USDH stablecoin after a community vote. Despite these developments, price sentiment appears to be weakening in the short term.
Token Supply Concerns Cited as Exit Reason
In his explanation for the sale, Hayes cited research from Maelstrom that outlines major supply pressures for HYPE. According to the report, 237.8 million tokens are set to vest linearly over the next 24 months, which equals nearly $500 million in monthly supply.
The research adds that current buybacks can only absorb about 17% of the upcoming tokens. This would leave more than $410 million of excess supply every month, creating a strong possibility of continued selling pressure.
Hayes said the market has not yet priced in this incoming supply and that it influenced his decision to exit the position. These tokenomics concerns are now being discussed more widely among investors.
Previous Portfolio Moves Raise Eyebrows
This is not the first time Arthur Hayes has sold assets after making positive public predictions. As reported earlier by CoinGape, Hayes previously sold over $13 million worth of crypto, including ETH, PEPE, and ENA, even as he forecast a bullish altseason.
Some traders noted that he had been one of the most vocal supporters of HYPE. His quick exit is now being seen by some as a strategic portfolio rotation, possibly into newer projects. Crypto analyst Yoshitaka suggested Hayes might be moving into ASTER, a new token that launched three days before the HYPE sale.
The quick turnaround between his bullish forecast and the sale has sparked debate around transparency and investor expectations, especially for figures with large public platforms.
