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2h ago

Arthur Hayes Offloads Entire HYPE Holding as Unlock Risk Hits Price

Maelstrom cast the move as risk management before a two-year token unlock that its analysis says buybacks cannot meaningfully offset.

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 trackers show Hayes sold 96,628 HYPE for about $5.1 million, realizing roughly $823,000 in profit after a month-long hold.
  • HYPE fell roughly 8–10% in 24 hours after the sale, with reports citing more than $1.7 billion erased from market capitalization.
  • Maelstrom detailed a vesting schedule of 237.8 million tokens starting Nov. 29 over 24 months, estimating buybacks can absorb only about 17% and leaving roughly $410 million in monthly supply overhang at current prices.
  • Large-holder flows added to pressure, with a wallet believed to be Techno_Revenant withdrawing 2.39 million HYPE worth about $122 million, raising concerns about potential selling.
  • Competition has intensified as Aster’s growth draws market share, while Hayes reiterated his long-term 126x projection for 2028 and reportedly redeployed funds into Ethena’s ENA.