Arthur Hayes, co-founder of BitMEX, has exited his Hyperliquid (HYPE) position only a month after buying in. On September 21, on-chain data showed that he sold 96,600 HYPE tokens worth approximately $5.1 million, securing a profit of around $823,000.
His exit translated to a 19% profit on the initial position and sparked immediate reactions in the market. HYPE faced selling pressure soon after. CoinGecko data showed the token dropped nearly 9% in the last 24 hours, trading around $49.4 at press time.
Arthur Hayes(@CryptoHayes) just sold all 96,628 $HYPE($5.1M) he bought a month ago, making ~$823K(+19.2%).
During his speech at the WebX Summit on Aug 25, he predicted a 126x upside for $HYPE, but is now out with less than a 20% gain.https://t.co/B6z5x7dOsv pic.twitter.com/69s0ZzIIii
— Lookonchain (@lookonchain) September 21, 2025
Hayes’ $5,000 HYPE Forecast
Hayes’ decision drew attention because he had recently predicted a massive future for HYPE. Speaking at the WebX Summit in Tokyo on August 25, he forecasted that the token might reach $5,000, a 126-fold increase.
He based this outlook on the rapid rise of stablecoins and the growing appetite for leveraged crypto products. Hyperliquid, a decentralized exchange handling billions in trading volume, was central to his argument.
To drive the point home, Hayes compared Hyperliquid to a casino. He said it attracts everyday users who take big risks for quick profits, noting the platform thrives when people are willing to gamble on volatile markets.
Hayes Sells HYPE for Ferrari 849
The sale has stirred debate within the crypto community. Some commentators argue his exit undermines his long-term conviction, while others see it as disciplined profit-taking.
Reflecting this, skepticism was echoed in on-chain activity.
“Never believe what people say in crypto, only what their actions show on chain,” one X user commented.
Attention also turned to possible external factors. Binance founder Changpeng Zhao recently endorsed Aster, a new platform viewed as a possible Hyperliquid rival.
Meanwhile, one user noted that shifting conditions make adaptation necessary. They argued that Hayes’ thesis overlooked new competition, and adjusting positions reflected a rational strategy.
Hayes also added his own comment to the discussion. He wrote online that the funds were needed for a Ferrari 849 Testarossa deposit.
His sale highlights the tension between bold predictions and real portfolio decisions. For now, his forecast for Hyperliquid’s long-term rise remains untested, even as his wallet suggests caution.
Ephraim Emmanuel | October 20, 2026
