Arthur Hayes Sells HYPE Stake Despite 126x Prediction, Market Questions Motives

Source: [1] HYPE Token Dips 7% as Arthur Hayes Sells HYPE (https://www.coingabbar.com/en/crypto-currency-news/arthur-hayes-sells-5m-hype-token-after-126x-prediction) [2] Arthur Hayes Nets $823K Profit After Selling $5.1M in Hyperliquid … (https://tokenpost.com/news/business/16760) [3] CZ’s Aster Shakes Hyperliquid as Arthur Hayes Sells (https://beincrypto.com/arthur-hayes-hyperliquid-hype-cz-aster/) [4] Arthur Hayes Capitulates on HYPE as CZ’s Aster Jolts Hyperliquid (https://cryptonews.net/news/altcoins/31661387/) [5] CoinStats - Shocking Profit: Arthur Hayes’ $5.1M HYPE Tok... (https://coinstats.app/news/a49a8f2b05ab10f03fe804d3304129342bb95a3d529ab76d183156cf096c4e2b_Shocking-Profit%3A-Arthur-Hayes%E2%80%99-%2451M-HYPE-Token-Sale-Unveiled/)

Arthur Hayes, co-founder of BitMEX, has sold his entire stake in Hyperliquid’s HYPE token, netting a $823,000 profit after a 126x price prediction made just weeks earlier. The sale of 96,600 HYPE tokens, valued at $5.1 million at the time of transfer, was confirmed by on-chain analytics platforms including Lookonchain and Arkham Intelligence. The transaction, executed on September 21, 2025, saw Hayes secure a 19.2% return on his investment in a single month, despite the token’s 7.61% decline in the 24 hours following the sale.

The move contradicts Hayes’ bullish forecast during the WebX Summit in Tokyo on August 25, where he declared HYPE could rise 126-fold to $5,000 over the coming years. The discrepancy between his public optimism and rapid profit-taking has sparked debate among traders and analysts. Hayes clarified the sale was for personal financial needs, stating on X, “Need to pay my deposit on the new Rari 849 Testarossa,” a reference to a high-end sports car. This explanation aligns with the view that the exit was tactical rather than a rejection of Hyperliquid’s long-term potential.

Market reactions to the sale were immediate. HYPE’s price dipped 7% in the aftermath, with trading volume surging as retail and institutional participants adjusted positions. On-chain data revealed additional pressure: a whale wallet withdrew $122 million in HYPE tokens, signaling broader profit-taking. Analysts remain divided. Some argue the sale reflects Hayes’ trader-first mindset, prioritizing short-term gains while maintaining faith in the project’s ecosystem. Others warn of sentiment shifts, noting that insider exits can trigger panic among retail investors.

The timing of Hayes’ sale coincides with intensified competition in the decentralized perpetuals exchange sector. Binance founder Changpeng Zhao’s recent promotion of Aster, a competing platform, has raised questions about Hyperliquid’s market dominance. OKX CEO Star Xu briefly acknowledged Aster as a potential rival before deleting the post, underscoring the sector’s volatility. While Hayes has not abandoned DeFi, his recent accumulation of $1 million in Ethena’s ENA token suggests a strategic pivot rather than a wholesale exit from crypto.

Looking ahead, traders are monitoring key indicators: sustained trading volume, support levels at current price points, and further on-chain activity from Hayes’ wallet. Analysts also highlight the potential impact of Hyperliquid’s upcoming vote on USDH integration, which could influence token dynamics. Hayes’ dual approach—securing immediate profits while investing in ecosystem-aligned projects—reflects the duality of his role as both a market operator and a long-term blockchain advocate.

The sale underscores the fluid nature of crypto markets, where high-profile actions by influential figures can rapidly reshape narratives. While HYPE’s 126x trajectory remains speculative, the interplay of regulatory shifts, competitor innovations, and whale movements will likely define its near-term trajectory. Investors are advised to balance on-chain signals with fundamental analysis as the sector evolves.