Arthur Hayes don start to buy HYPE again as one whale add $1.1M; ETF filing dey show BHYP

Published: 2026-04-12 11:05:50 |

Crypto trader Arthur Hayes (wey co-founder for BitMEX) don start buy Hyperliquid (HYPE) again after about three months. Lookonchain report say im do new on-chain buy of 26,022 HYPE (about $1.1M). Hayes total position now around 247,334 HYPE, worth like $10.44M, with unrealized gains near 27.22% (about $2.23M). He still talk say him target na $150 for HYPE by August 2026. One big story na Hyperliquid get buyback-and-burn model: protocol supposedly dey direct 97%–99% of annual trading fees (estimated near $1B) to open-market repurchases and burning of HYPE, wey dey create deflationary feedback loop wey join with platform usage. ETF momentum na another catalyst. Bitwise file amended SEC registration with ticker BHYP and management fee 0.67%, and analysts dey see am as progress toward ETF launch. Grayscale don before submit S-1 to list HYPE ETF on Nasdaq as GHYP. But near-term conditions mixed. HYPE don drop about 2% last 24 hours because of US–Iran ceasefire headlines. Bigger DEX activity dey cool down too: DeFiLlama show March DEX spot volume fall 23.9% to about $212B (lowest since Oct 2024), and monthly perpetual DEX volumes drop to $699B from $1.369T peak in Oct 2025. For HYPE traders, dis one good for whales (Hayes back + possible ETF catalysts), but falling DEX volumes fit make am hard for buybacks to support price consistently in short term.

Bullish

Hayes wey don restart HYPE buying na immediate, whale-level demand signal and e dey likely support near-term sentiment. On top of that, Bitwise amended SEC filing (BHYP) and the earlier Grayscale S-1 (GHYP) add ETF-related optionality we fit attract extra capital if approvals move forward. For long-term traders, Hyperliquid fee-to-buyback-and-burn structure dey provide plausible supply-reduction mechanism wey connect to platform usage, supporting the bull thesis for HYPE. The main offset na the cooling market backdrop: HYPE small down and DEX spot/perp volumes don fall materially. That fit reduce how strong buybacks dey translate into price momentum short-term. Still, balance of catalysts favour upside bias for HYPE rather than downside.