TLDR
- Arthur Hayes purchased 19,227 HYPE tokens worth approximately $499,000 after a three-month break from the market.
- Hayes made a 19.2% profit from his previous sale of 96,628 HYPE tokens, totaling around $823,000.
- Hayes refuted claims of market manipulation, stating his HYPE token sale was for personal reasons related to his firm.
- Hayes reported a positive trading performance in 2025, covering his expenses with his profits while acknowledging some losses.
- Maelstrom, Hayes’ investment fund, entered 2026 with maximum risk exposure, focusing on privacy coins like Zcash.
Arthur Hayes, the former CEO of the cryptocurrency exchange BitMEX, has resumed buying HYPE tokens after a three-month hiatus. On-chain data confirmed that Hayes purchased 19,227 HYPE tokens on Wednesday, with an estimated value of $499,000. This purchase comes after Hayes sold a large amount of HYPE in September, raising questions about his motivations and future involvement with the token.
Hayes’ Previous HYPE Sale and Profit
In September, Arthur Hayes sold 96,628 HYPE tokens, worth around $5.1 million at the time. He made a 19.2% profit, amounting to approximately $823,000, from the sale. Hayes had initially bought these tokens just a month earlier. He later stated that the sale was prompted by his desire to purchase a new Ferrari.
Despite his explanation, some traders accused Hayes of manipulating the HYPE token price by inflating its value before selling. These accusations were largely based on his active promotion of the token just before offloading his holdings. Hayes refuted the claims, stating that the sale was due to concerns related to his firm.
At the WebX Summit in August, Hayes had made bold predictions regarding HYPE, forecasting that the token could increase in value by 126x by 2028. He also compared Hyperliquid, the platform behind HYPE, to a decentralized Binance. Hayes argued that Hyperliquid could potentially capture a market share comparable to that of Binance.
Hayes’ 2025 and 2026 Trading Strategy
Looking back at his trading performance, Hayes reported positive results for 2025, particularly in his liquid directional book. He shared that he managed to cover his expenses through the profits from his trades. However, he admitted to making some bad trades, with his biggest loss coming from trading the PUMP token right after its launch.
Despite setbacks, Hayes is optimistic about 2026, focusing on large, medium-term positions based on a macro liquidity thesis. This strategy is in line with his prediction that digital asset prices will rise due to economic factors like surging nominal GDP and U.S. deficit spending. He believes that the Federal Reserve’s actions, including money printing, will drive the crypto market higher this year.
Hayes has also acknowledged his fund, Maelstrom, has entered 2026 with a high-risk exposure. He has confirmed that Maelstrom’s portfolio remains focused on risk assets, particularly privacy coins like Zcash (ZEC). Hayes believes ZEC will become the leading privacy token, and he has already secured long positions in it, taking advantage of favorable prices during the third quarter of 2025.
By maintaining this aggressive stance, Hayes aims to position Maelstrom for future gains, especially as he anticipates more economic shifts that will impact the market. The fund’s strategy shows a commitment to privacy tokens and decentralized finance (DeFi) assets, with the hope that these areas will continue to lead the market in 2026.
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