Lookonchain
Arthur Hayes has deposited 115,453 $HYPE — worth roughly $6.33 million — into Bybit, on-chain data flagged by Lookonchain shows. The wallet linked to the BitMEX co-founder had withdrawn the same stack from Bybit about a month ago at an average price near $39.58, putting the position's unrealized gain at roughly $1.76 million.
Why it matters
The move lands in the same week Hayes publicly floated a $150 price target for $HYPE, the native token of Hyperliquid. Public bullishness paired with deposits to a centralized venue is the kind of pattern the market reads closely: it can signal an OTC distribution, a custody rotation, or preparation for sale — not necessarily a direct dump, since exchange deposits precede a wide range of outcomes. The wallet has not yet sent the tokens to a sell address, so the on-chain footprint is ambiguous on direction.
Market impact
The headline framing — Hayes selling — is premature on the evidence. What is confirmed is timing asymmetry: a high-profile $HYPE bull sending a seven-figure position to a venue that processes the token's deepest spot liquidity. Traders will watch Bybit's $HYPE order book over the next sessions for absorption size; the more relevant read is what Hayes says next, not what the wallet does next.
Frequently asked questions
-
Why did Arthur Hayes deposit $HYPE into Bybit?
The on-chain footprint is ambiguous. Exchange deposits can signal OTC distribution, a custody rotation, or preparation for sale. No tokens have hit a known sell address yet, and Hayes has not publicly commented on the move.
-
What is Arthur Hayes' average price on the $HYPE deposit?
Lookonchain traces the withdrawal from Bybit about a month ago at an average near $39.58, putting unrealized gain on the 115,453 $HYPE stack at roughly $1.76 million.
-
Did Arthur Hayes say $HYPE could hit $150?
Yes — he publicly floated a $150 price target for $HYPE in the days before the deposit, which is what makes the timing of the Bybit transfer notable to on-chain watchers.
-
Which exchange did the $HYPE deposit go to?
Bybit. The deposit was visible on-chain via the wallet's clustering; Bybit processes the deepest spot liquidity for $HYPE among major CEXs.
-
Should $HYPE holders be worried by the deposit?
Not yet. A CEX deposit is positioning data, not a confirmed sell. Traders will watch the Bybit $HYPE order book for absorption and any follow-up public statement from Hayes before treating it as distribution.
TheBlock
Crypto Rank News
CoinTelegraph
CryptoSlate
WuBlockchain