Hayes Exits HYPE
BitMEX Co-founder Arthur Hayes Exits Hyperliquid and NEAR Positions Ahead of Expected Market Peak
Anonymous
Crypto trader and BitMEX co-founder Arthur Hayes said he fully exited his Hyperliquid (HYPE) and NEAR positions, surprising followers after earlier bullish calls, including a high-profile $100,000 wager that HYPE would outperform other large-cap tokens by year-end. On-chain monitoring cited by multiple outlets shows Hayes sold 247,334 HYPE tokens worth about $18 million, while his NEAR holdings were also liquidated in an undisclosed amount. Hayes attributed the reversal to rising energy costs tied to the Iran conflict and inventory restocking, expectations of several major AI company IPOs that could draw capital away from crypto, and a view that current president Donald Trump may take a more skeptical stance toward AI ahead of the U.S. midterm elections. He also said he expects market highs between now and September and framed the sale as profit-taking ahead of a potential peak. The announcement coincided with weakness in HYPE, with at least one report noting a sharp pullback after the news, even as some observers noted the token’s recent broader uptrend. Hayes plans to publish a fuller explanation in an upcoming essay titled “Reality Test.”
Key Points
1
In his X post, Hayes quoted: “I just dumped my entire $HYPE and $NEAR position,” adding he would explain the move in his essay “Reality Test” “dropping next Tuesday.”
2
Hayes’ “3 Mega AI IPOs” remark was interpreted as the anticipated listings of “SpaceX, Anthropic, and OpenAI,” linking his exit to a very specific set of expected AI-related public offerings.
3
HYPE’s selloff was immediate and measurable: one report said it “tumbled over 4%,” with TradingView data showing HYPE at about $69.10, down 4.29% on June 4.
4
The timing of Hayes’ reversal also conflicted with fresh market plumbing: the same outlet noted that Grayscale Investments launched a Hyperliquid staking ETF on June 3, which some traders found “a surprise” given the subsequent drop.
5
Despite abandoning HYPE and NEAR, Hayes continued to signal bullishness elsewhere—posting a call on Worldcoin (WLD) with a $10 per-token target.
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