Hi, this is John. Today I'll be explaining Arthur Hayes' HYPE token sale in an easy-to-understand way.
The world of cryptocurrencies is constantly changing. Recently, news of Arthur Hayes, co-founder of BitMEX, selling a large amount of Hyperliquid's HYPE tokens has been a hot topic. In this article, we will explain the background and reasons behind this decision in an easy-to-understand manner, even for beginners.
The reason this topic is important now is that Hyperliquid is attracting attention as a decentralized exchange (DEX, a platform that allows trading without central control on the blockchain), and the actions of celebrities like Hayes have an impact on the market. Currently, token values fluctuate dramatically, so for those considering investing, knowing the reasons for selling can help with risk management. Competition is expected to intensify in the future, so this is a good opportunity to keep up with information wisely. For those starting cryptocurrency trading for the first time, choosing a reliable exchange is important. Here is an easy-to-understand comparison of major services:How to Choose and Compare Cryptocurrency Exchanges for Beginners.
What is Hyperliquid? Let's review the basics
Hyperliquid is a decentralized exchange (DEX) that utilizes blockchain technology and specializes in perpetual futures trading (perpetual swaps, financial products that allow users to bet on price fluctuations without expiry). It began to attract attention around 2023, and trading volume is currently booming. For example, recent data shows that daily trading volume has exceeded $12 billion on some days.
The appeal of this platform is that everything is processed on-chain (completely on the blockchain). Compared to traditional centralized exchanges (CEX), it features lower fees and higher transparency. Further growth is expected as new trading tools are planned for the future.
Arthur Hayes's previous views
Arthur Hayes is known as the co-founder of BitMEX and currently serves as the CIO (Chief Investment Officer) of the investment fund Maelstrom. In a past interview around August 30, 2025, he predicted that the value of the HYPE token could increase 126 times compared to its current value, which attracted a lot of attention. This was due to the growth of Hyperliquid's stablecoins (virtual currencies with stable value).
However, just three weeks later, around September 21, 2025, Hayes sold all 96,600 HYPE tokens he held, earning approximately $5.1 million. This move surprised the market, causing the price of HYPE to temporarily fall by 5.33%. There is currently discussion that this sale contradicts Hayes' prediction, but the detailed reasons for this have been revealed.
Main reason for the sale: Token unlock and competition concerns
The selling comes as Hyperliquid faces an impending token unlock, a gradual release of holdings into the market. Maelstrom estimates that this could result in around $410 million in selling pressure each month, creating a $119 billion risk factor. Similar cases in the past have often seen price drops due to unlocks.
Another factor is the increasing competition. Currently, rival platforms such as Binance-backed Aster are emerging, threatening Hyperliquid's market share. Hayes appears to have taken this into consideration and adjusted his position. Going forward, it will be important to keep an eye on how these factors affect the price of HYPE.
Hyperliquid's latest update
As of September 22, 2025, Hyperliquid is currently implementing new trading tools. For example, the CEO of OKX praised Hyperliquid's technology, praising the company for building an efficient on-chain exchange with a small team. Trading volume remains high, with a recent peak of $15 billion in open interest (total unsettled trading positions).
On the other hand, after Hayes sold his shares, the price of HYPE fell by 8%, but the platform itself has continued to operate stably. Going forward, there is a possibility that token buybacks (a mechanism by which platforms buy back their own tokens) will increase, which may be a factor in the price recovery.
Risks and countermeasures: Tips for working safely
Cryptocurrency investments are inherently subject to the risk of price fluctuations. Especially when the actions of prominent figures like Hayes can shake up the market, don't buy or sell emotionally; instead, make decisions based on facts. Invest at your own risk and only within your tolerance for losses. Legally, in Japan, follow the regulations of the Financial Services Agency, and for security, be sure to enable two-factor authentication.
Here are some tips for beginners on how to use Hyperliquid.
- Start trading with a small amount and get familiar with how to use the platform.
- Check the official website for the token unlock schedule and anticipate any selling pressure.
- Regularly check the news of competing platforms to stay on top of market trends.
- Diversify your investments and avoid concentrating on one token.
Summary and John's thoughts
Arthur Hayes's sale of HYPE was primarily due to concerns about token unlocking and competition, but Hyperliquid itself still has great potential. From past predictions to current trends, you can sense the dynamism of the market.
As John, I think this news is an opportunity to learn. I hope you will also gather information and enjoy cryptocurrency at your own pace. If you are unsure which company to start with, compare fees, the stocks handled, and ease of use of the UI. For a detailed comparison,click here.
This article has been compiled and fact-checked by the author, based on the following original articles and public information:
- Why Arthur Hayes sold $5.1 million HYPE tokens because of $12B Hyperliquid concern
- Hyperliquid News: Why BitMEX Co-Founder Arthur Hayes Thinks HYPE Can 126x From Here
- Arthur Hayes sells $5.1M in HYPE weeks after bold 126x prediction
- Hyperliquid (HYPE) Slides as Arthur Hayes Exits Entire Position for Ferrari Deposit
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