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Arthur Hayes Exits $5.1M HYPE Position After Bullish 126x Prediction
Arthur Hayes Exits $5.1M HYPE Position After Bullish 126x Prediction
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BTCCSquare news:
BitMEX co-founder Arthur Hayes has liquidated his entire $5.1 million stake in HYPE tokens, netting $823,000 in profit. The sale followed his recent prediction of a 126x price surge for the token during a WebX Asia conference appearance.
Market reaction was immediate, with HYPE plunging 8.3% within 24 hours as investors recalibrated positions. On-chain data reveals Hayes sold 96,628 tokens, citing upcoming $500 million monthly vesting schedules as rationale for the exit.
The move underscores the volatility influencer actions can trigger in crypto markets. Hayes quipped about allocating proceeds toward a Ferrari Testarossa deposit, while traders watched support levels crumble under sudden selling pressure.
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