Arthur Hayes Sells HYPE Tokens for $823K Profit, Plans Ferrari Purchase

BitMEX co-founder Arthur Hayes has sold his entire holding of Hyperliquid (HYPE) tokens, netting a profit of over $823,000. The move, announced on September 21 via social media, comes just weeks after Hayes made a bullish 126x price prediction for HYPE. The proceeds are earmarked for a deposit on a Ferrari 849 Testarossa, raising questions about whether the sale reflects a shift in sentiment or a personal indulgence.

Hayes had previously touted HYPE's potential, linking his Optimism to the growth of Hyperliquid, a decentralized derivatives exchange gaining traction in DeFi. Despite his long-term confidence, the sale of 96,628 tokens at a 19.2% profit suggests short-term opportunism. Blockchain trackers like Lookonchain and HypurrScan confirmed the transaction, which occurred amid volatile price action for the token.

Hyperliquid's native token, HYPE, has been a standout performer since launch, though Hayes' exit introduces uncertainty. The crypto community is left to speculate whether this is a strategic pivot or a mere liquidity event for a luxury purchase.