• Arthur Hayes sold 96,628 HYPE for $5.1M, securing a $823K profit at an average of $52.
• TechnoRevenant’s main wallet holds $12.4K, mostly in ETH and BNB, alongside smaller tokens.
• TechnoRevenant’s linked secondary wallet unstaked 2.39M HYPE worth $122.71M four hours ago.

Arthur Hayes, co-founder of BitMEX, has liquidated his entire holding in Hyperliquid (HYPE), totaling 96,628 tokens. The transaction, worth $5.1 million, was executed through two key exchange transfers. Lookonchain data shows 26,627.65 HYPE went to Gate.io for $1.39 million, while 70,000 tokens were sent to Bybit, totaling $3.65 million. The average selling price was $52.02 per token.

Hayes’ initial position was built one month earlier at entry prices around $43 per token. The trade resulted in a profit of approximately $823,000, reflecting a 19.2% gain. Prior to this final move, Hayes consolidated his holdings through multiple transfers, including 16,562.66 and 10,361.12 HYPE.

Forecasted Gains Fall Short

On August 25, during the WebX Summit, Hayes presented a bullish projection for HYPE. His slides forecasted a 126x potential upside, backed by expected network growth. He cited Hyperliquid’s projected annualized fees of $258 billion by 2028, alongside a $5.16 trillion terminal value. Despite this outlook, Hayes’ complete exit indicates a short-term position strategy. All tokens were sold at a valuation significantly below the projected target.

The on-chain transactions confirm the closure of this position. The receipts and final transfers were all recorded on the blockchain and correspond to exchange deposits. The liquidation was concluded swiftly and aligned with market conditions above $52 per token.

TechnoRevenant Wallet Holds Over $122M in HYPE

In contrast to Hayes’ exit, the wallet tagged TechnoRevenant (0x316f…e678) maintains a large HYPE position. According to Lookonchain post on X, the wallet’s current value stands at $12,465.89, mostly held in Ethereum. Holdings include 2.379 ETH valued at $10.64K and 1.714 BNB worth $1.79K. Smaller positions include DTRXBT, PORT3, JAIHOZ, and VOLTX tokens.

Historical records show this address executed several large HYPE purchases nine months ago. Transactions include 73,333.33 HYPE for $989,999.96 and 74,074.07 HYPE for $999,999.95. Additional purchases brought total holdings over 2.1 million HYPE, sold later at $51.19 per token, totaling $107.6 million.

A connected wallet (0xfdc…c314) currently holds 2,393,292.24 HYPE, valued at $122.71 million. The same wallet also holds 287,982 BRIDGE tokens worth $17,944.73 and 37.82 USDC. The account shows a net loss of $2.97 million on HYPE, or -2.37%, and -41.58% on BRIDGE. Staking history shows the entire 2.39 million HYPE was unstaked. The current balance confirms the withdrawal and reallocation of the tokens.