Whale Sells $228 Million in HYPE Tokens
An early Hyperliquid whale sold 4.99 million HYPE tokens for $228.76 million. The investor made a profit of $148.63 million after holding the tokens for nine months, according to blockchain analytics firm Lookonchain.
The whale originally bought 5.07 million HYPE tokens at an average price of $16.23 each. After the sale, the holder retains 77,089 tokens worth $3.37 million.
Arthur Hayes’ Exit Triggers Whale Selling
The recent selling wave started after BitMEX co-founder Arthur Hayes sold his entire HYPE position on September 21. Hayes earned $823,000 from selling 96,628 tokens. He used the funds to buy the “new Rari 849 Testarossa,” according to previous reports.
This move surprised many because Hayes had predicted at the WebX 2025 conference in Tokyo that HYPE could increase 126 times in value over three years. He cited Hyperliquid’s ecosystem and stablecoin growth as reasons for potential platform fees rising from $1.2 billion to $255 billion annually.
Despite his bullish forecast, Hayes sold before a large unlock of 237.8 million HYPE tokens begins vesting on November 29. Research from Maelstrom warned this event could add $446 million in monthly selling pressure, exceeding what buybacks can handle.
More Whales Sell as Aster DEX Gains Traction
- Other large holders quickly followed Hayes. One sold 2.44 million tokens for $102.5 million.
- Another sold 201,900 tokens worth $8.93 million within two hours.
- A smaller wallet sold 67,006 tokens for $3.82 million.
- Trader 0xa523 lost over $40 million in one month due to miscalculations.
- Trader James Wynn opened a short position at $45.25, expecting lower prices.
Aster DEX on the BNB Chain has surpassed Hyperliquid in seven-day trading volume. By September 30, it generated more than $25 million in daily fees. Features like hidden orders and a PvE trading model attract users seeking alternatives. Reports suggest former Binance CEO Changpeng Zhao may hold over $100 million in Aster tokens.
According to CoinMarketCap, HYPE trades around $43.77, down 5.74% in 24 hours and 7.49% over the past week.
