Arthur Hayes Dumps $5M HYPE Ahead of $11.9B Unlock Wave
Arthur Hayes, former BitMEX co-founder, sold all 96,628 HYPE tokens (≈$5.1M) on Sept. 21, booking a 19% gain to cover a Ferrari deposit. The on-chain sale, confirmed by Lookonchain, drew criticism given Hayes’s recent 126× rally forecast for HYPE. His Maelstrom fund warns of a looming 237.8 million HYPE token unlock starting Nov. 29. Over two years, this adds roughly $11.9 billion in new supply (≈$500 million per month). With Hyperliquid’s buyback absorbing only 17% of fresh HYPE tokens, traders may face a $410 million monthly overhang. Hayes calls it a temporary test ahead of long-term growth.
Bearish
The announcement of a massive 237.8 million HYPE token unlock—adding about $11.9 billion of new supply over two years—creates significant short-term sell pressure. Hyperliquid’s buyback can absorb only 17% of fresh tokens, leaving a monthly overhang of around $410 million. Coupled with insider profit-booking by Arthur Hayes, traders are likely to face downward price action on HYPE in the near term. While a long-term 126× forecast remains in place, immediate market dynamics point to bearish pressure on the HYPE token.