Arthur Hayes, the co-founder of BitMEX and a crypto fund manager, moved 115,453 HYPE tokens — worth about $6.33 million — into the exchange Bybit earlier this month. The deposit comes weeks after Hayes publicly said he expected HYPE to hit $150.
The deposit
On-chain data shows a wallet previously linked to Hayes sent the tokens to Bybit in a single transaction. Blockchain analysts have tied the address to Hayes through past transfers from known BitMEX-linked wallets. The transfer landed on Bybit, an exchange where Hayes has been an active trader. It's a meaningful sum — at current valuation, the deposit represents roughly 0.15% of HYPE's circulating supply, according to on-chain data.
The $150 prediction
In late April, Hayes posted a price target of $150 for HYPE, the native token of the Hyperliquid protocol. At the time, HYPE was trading well below that level. Hayes has been a vocal supporter of Hyperliquid, calling it a real challenger in the decentralized exchange space. The prediction drew attention partly because of his track record and partly because of the token's volatility.
Timing
The transfer happened weeks after that public call — a detail that's hard to ignore. Large deposits to exchanges are often read as a signal that the holder intends to sell or use the tokens as margin. But Hayes hasn't signaled any change in his long-term stance on HYPE. The deposit could be for trading purposes, or it could be a simple wallet reorganization. There's no way to tell from the chain data alone.
Hayes has not publicly addressed the transaction. The reason for the move isn't clear.
What is clear: 115,453 HYPE tokens are now sitting on Bybit. Whether they stay there or move again will be the next tell.
