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Hyperliquid's HYPE Drops 10% as Arthur Hayes Exits Position Despite $150 Price Target
The BitMEX co-founder moved about $18 million in HYPE to Flowdesk and said broader market risks, not Hyperliquid, drove the sale.
- On Thursday, BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes announced he sold his entire HYPE and NEAR positions, reversing his recent bullish predictions for the tokens.
- Just days earlier, Hayes reiterated a $150 HYPE price target and challenged Multicoin Capital's Kyle Samani to a $100,000 charity bet, actions that sparked backlash among crypto investors.
- Hayes moved roughly $18 million in HYPE tokens to market maker Flowdesk, while NEAR fell 17.8% to $2.34. Research founder Markus Thielen noted Hyperliquid remains "one of the most impressive businesses in crypto" despite the shift.
- DeFiance Capital founder Arthur Cheong called the move "the epitome of a guy that over-trades his position," questioning why investors treat Hayes' signals as actionable. Hayes defended the sale as "Time to take profit."
- In an essay titled "Reality Test" set for June 9, Hayes cited rising energy prices from the Iran conflict and looming IPOs as reasons for the exit. Observers watch whether he re-accumulates HYPE within 30 days.
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Arthur Hayes, the co-founder of BitMEX and one of the most followed profiles of cryptospace, has liquidated all his positions in the Hyperliquid Token (HYPE) and NEAR Protocol. In total, 18 million dollars in HYPE and an undisclosed amount of NEAR that surprised the market for the time chosen.The decision comes just a few days after Hayes publicly challenged Kyle Samani, Multicoin Capital's partner, to a charity bet of $100,000 in which he predi…
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