Massive HYPE Token Unlock Approaching! Arthur Hayes’ Early Sell-Off Sparks Market Panic
TradingKey – HYPE accelerated its decline today, dropping over 22% in the past three days and briefly breaking below the key $50 support level.
On Monday, September 22, HYPE continued its downward slide, hitting a low of $46 — its lowest point in nearly two weeks. Since September 19, the token has been in steady retreat, with a peak drawdown of 22%.
HYPE Price Chart – Source: TradingView
Yesterday, BitMEX co-founder Arthur Hayes reportedly sold nearly 100,000 HYPE tokens worth over $5 million. The move drew backlash from the community, especially since Hayes had predicted just three weeks ago that HYPE could surge 126x over the next few years.
In response to criticism, Hayes cited a fund report from Maelstrom, explaining that his decision to sell was based on looming unlock pressure. According to the report, starting November 29, more than 200 million HYPE tokens will be gradually unlocked over the next two years.
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