BitMEX co-founder cashes out weeks after predicting 126x surge
Arthur Hayes, co-founder of BitMEX, has sold his entire holdings of Hyperliquid’s HYPE token, cashing in an estimated $823,000 profit. The move comes just weeks after his widely discussed prediction that HYPE could surge 126x within three years.
On September 21, Hayes revealed that he sold all 96,628 HYPE tokens, securing a 19.2% gain according to on-chain data. “Need to pay my deposit on the new Rari 849 Testarossa,” he posted, referencing the luxury car that is expected to sell for up to $590,000.
The sale surprised many in the crypto community, given Hayes’ prior bullish outlook. At the time of writing, HYPE traded at $49.48, down 8.1% in 24 hours but still up an impressive 660% since launch in late November when it debuted at $6.51.
HYPE’s Rapid Growth
HYPE serves as the native token for the Hyperliquid decentralized derivatives exchange, which has seen surging adoption. Trading volume grew from $560 million in early August to an all-time high of $3.4 billion on August 24, according to DeFi data trackers.
At the WebX 2025 conference in Tokyo, Hayes argued that stablecoin market expansion and fiat debasement could drive Hyperliquid’s annualized fees from $1.2 billion to $255 billion, fueling his earlier projection of a massive price rally.
Could Hayes Return to HYPE?
So far, Hayes has not indicated whether he will re-enter the market. Analysts note that such moves are not unusual among high-profile investors who balance short-term profits with long-term strategies.
Meanwhile, Hayes continues to make bold market calls. He recently suggested the crypto market could enter “up only” mode following the U.S. Treasury’s liquidity milestone, and he maintains that Bitcoin could hit $250,000 by the end of 2025.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.