- BitMEX co-founder Arthur Hayes sold 96,628 HYPE for $5.1M, netting $823K profit and confirming the move on September 21.
- Hayes predicted at WebX Asia that HYPE could rise 126x in three years, citing stablecoin expansion and rising DEX revenues.
- HYPE trades at $49.48, down by 8.1% in 24 hours but up 660% since launch, with record $3.4B August volume, DefiLlama shows.
BitMEX co-founder Arthur Hayes has offloaded his entire Hyperliquid (HYPE) stash, cashing out $5.1 million only weeks after forecasting that the token could multiply 126 times. Hayes himself confirmed the sale on September 21, joking on social media that the profit would help him place a deposit on a Ferrari Testarossa. Data from Lookonchain revealed he sold 96,628 tokens, securing about $823,000 in profit, which represented a 19.2% gain.
Hayes’ Forecasts and Recent Exit
At the WebX Asia conference in Tokyo on August 25, Hayes predicted HYPE’s value could increase significantly over three years. He argued that fiat currency debasement would fuel stablecoin expansion, pushing Hyperliquid’s annualized fees to $255 billion, up from $1.2 billion at the time. His forecast came as the decentralized derivatives exchange behind HYPE saw surging activity.
HYPE Token’s Market Performance
The Hyperliquid token, which powers the exchange, was trading at $49.48 at the time of writing. That represented an 8.1% decline in 24 hours. However, HYPE has gained 660% since launching in November 2024 at $6.51.
Trading volumes on the platform also accelerated sharply, rising from $560 million in early August to a record $3.4 billion on August 24, according to DefiLlama data. This increase highlighted growing traction even as Hayes chose to exit his position.
Hayes’ Broader Market Commentary
While exiting HYPE, Hayes continues to share wider market perspectives. Last week, he suggested crypto markets could now shift into “up only” mode. He linked this to the U.S. Treasury achieving its $850 billion General Account target, which he argued removed a key liquidity drag.
Hayes has also reiterated his long term view for Bitcoin, maintaining a $250,000 price target by the end of 2025. In a recent interview, he criticized investors chasing quick gains, warning that such expectations often end in liquidation. He further noted that Bitcoin remains a strong performer when adjusted for inflation and currency debasement, despite lagging the S&P 500 and gold in recent weeks.
