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2w ago

Arthur Hayes Exits HYPE, Triggers Selloff as Vesting Risks Loom

Maelstrom flags a two-year vesting starting Nov. 29 that could release roughly $500 million in tokens each month.

Bitmex co founder arthur hayes dumps hype for a ferrari, then tells followers not to worry
(Source: X)
(Source: DefiLlama)
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Overview

  • On-chain data shows Hayes sold 96,628 HYPE for about $5.1 million, netting roughly $823,000, and he quipped the proceeds would cover a Ferrari Testarossa deposit.
  • HYPE slid roughly 8%–12% intraday following the sale, with reports noting a sharp drop in price and market value despite the token’s large gains since launch.
  • Maelstrom’s analysis cites 237.8 million tokens set to vest over 24 months, estimates buybacks cover only about 17% of issuance, and calculates a ~$410 million monthly supply overhang.
  • A whale wallet likely tagged as Techno_Revenant withdrew about 2.39 million HYPE (~$122 million), heightening concerns about additional selling pressure.
  • Coverage also highlights rising competition from new DEX entrant Aster, while Hayes reiterated a long-term 126x upside by 2028 and redeployed capital into other DeFi tokens such as ENA.