- Arthur Hayes sold $5.1M in HYPE weeks after touting a 126x surge, sparking investor doubts.
- HYPE faces $500M monthly unlock pressure, with buybacks covering only 17% of supply.
- Token price fell 8.3% to $49.9, breaking support as MACD and RSI signaled bearish momentum.
Arthur Hayes sold $5.1 million worth of HYPE tokens just weeks after promoting its long-term potential. The BitMEX co-founder offloaded 96,628 tokens, booking an $823,000 profit. The sale shocked investors, as Hayes had recently predicted a 126x surge for HYPE based on Hyperliquid’s revenue growth and stablecoin expansion.
Hayes’ Token Sale and Unlock Pressure
The founder confirmed the transaction and joked that the proceeds would be used to purchase a Ferrari Testarossa. The move drew attention because Hayes had only recently told WebX Asia attendees that HYPE could become one of the strongest performing tokens over the next three years.
Crypto commentator Yoshitaka described the timing as unusual since Hayes had been one of HYPE’s most vocal advocates. Many traders speculated that he may be rotating into ASTER, a token launched days before his sale. Others viewed it as profit-taking after rapid price gains.
Hayes pointed to Maelstrom research, which flagged supply concerns for HYPE. The report stated that 237.8 million tokens will vest gradually over 24 months from November 29. At current prices, this equates to $11.9 billion, or about $500 million in monthly supply. Buybacks could absorb only 17%, leaving heavy sell pressure.
Market Reaction and Price Movements
The market response was swift. CoinMarketCap data showed HYPE dropping 8.3% in the past 24 hours, trading near $49.9. This decline came shortly after the token hit an all-time high of $53.44, completing a rally of over 1,200% since its late 2024 low.
Technical indicators reinforced the weakness. The MACD showed bearish divergence, RSI approached oversold levels, and the price fell below the $52–$53 support range. Analysts noted, however, that high trading volumes could allow temporary price rebounds if new buyers enter the market.
Despite short-term volatility, Hyperliquid continues to expand. Native Markets recently secured the mandate to manage the USDH stablecoin rollout, decided by a vote of Hyperliquid stakers. Meanwhile, Hayes reiterated his broader crypto outlook, maintaining a $250,000 Bitcoin target for 2025 and pointing to improved liquidity conditions in global markets.
