Hayes dey sell HYPE Tokens for Ferrari Deposit, Price don fall
Arthur Hayes, co-founder of BitMEX, sell 96,628 HYPE tokens for September 21. Di on-chain sale convert to about $5 million, give 19% profit. Traders see di sale as whale profit-taking. HYPE token price drop 7.6–12% hours after. Hayes talk say e use part of di money pay deposit for new Ferrari 849 Testarossa. Market analysts warn say supply go plenty as 238 million HYPE tokens go start to vest from November 29. Monthly unlocks fit add $410 million tokens wey buyback programs no fit fully absorb. Another big holder, Techno Revenant, also move 2.39 million HYPE tokens, cause more fear for selling. Short term, HYPE token fit get wahala from big whales exit and token unlocks. But, Hayes still get confidence. He project price go 126x by 2028, talk say fee growth for Hyperliquid derivatives exchange go drive long-term gain.
Bearish
Di HYPE token sale we Arthur Hayes lead plus big transfers wey follow don increase di selling pressure. Di sale of 96,628 tokens cause price drop between 7.6-12%, show say big whales dey comot sharp sharp dey take profit. Di big unlock wey go start for November 29, wey be 238 million tokens, go still add more bad supply wey go pressure price down. For short term, dis kain tins mean say price go still get gbege and e go dey drop. For long term, Hayes plan for fee-driven growth for Hyperliquid plus di 126× target for 2028 fit bring recovery. But current news heavy for HYPE token price, e mean say outlook be bearish.