Arthur Hayes, after predicting '$150 Hyperliquid,' sold at $54.81 and re-bought at an all-time high.

▲ Hyperliquid (HYPE)/ChatGPT generated image

It has been confirmed that the wallet linked to Bitmex co-founder Arthur Hayes, who had predicted Hyperliquid (HYPE) to reach $150, sold Hyperliquid at a low price and then re-purchased it at a higher price. This on-chain transaction flow, which occurred immediately after Hyperliquid reached an all-time high, has garnered significant market attention.

According to Bitcoin.com on May 25 (local time), the Hayes-linked wallet sold 115,453 Hyperliquid tokens at an average price of $54.81, and then a few days later, re-purchased 85,714 Hyperliquid tokens at $62.69 each. This transaction was interpreted as selling a larger quantity at a lower price and buying back a smaller quantity at a higher price.

On-chain tracking firm Lookonchain stated that on May 23, the Hayes-linked wallet deposited 115,453 Hyperliquid tokens, worth $6.33 million, into Bybit. At the time, questions were raised in the market about whether it was an actual sale, given that Hayes had recently put forth a $150 Hyperliquid price prediction.

Bitcoin.com later reported that the deposit was confirmed as a sale at an average of $54.81. Approximately three hours before the investigation results were released, the same wallet withdrew 85,714 Hyperliquid tokens, worth $5.37 million, from Bybit. The re-purchase price was $62.69, about $8 higher than the previous selling price.

In an article published earlier this year, Hayes referred to Hyperliquid as his highest conviction position and set a price target of $150 for Hyperliquid by August 2026. His prediction is based on Hyperliquid's revenue model. Hyperliquid uses approximately 97% of its trading fees to buy back Hyperliquid in the open market, which Hayes claims is the most capital-efficient token structure in decentralized finance (DeFi).

Hyperliquid's price movement also bolstered the bullish narrative. On May 24, Hyperliquid recorded an all-time high of $64.24, and its 24-hour trading volume exceeded $1.2 billion. The Hyperliquid platform's trading volume over the past 30 days surpassed $176 billion, and its open interest exceeded $8 billion. The network generated over $896 million in revenue over the past 12 months.

In addition to Hyperliquid transactions, the Hayes-linked wallet was found to hold a long position in Bitcoin (BTC) totaling 5,440 BTC. The value of this position was estimated at approximately $38.9 million. Bitcoin.com also reported that the wallet holds a short position of 57,460 Zcash (ZEC), which is currently at a loss.

However, Bitcoin.com stated that the attribution of on-chain wallets is based on analysts' clustering methods and has not been directly confirmed by Hayes himself. With Hyperliquid hitting an all-time high, the $150 prediction, the low-price sale followed by a high-price re-purchase, and large derivative positions all coming to light simultaneously, the transaction flow of the Hayes-linked wallet has emerged as a key point of interest for the market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*