Arthur Hayes, the co-founder of BitMEX, has exited his HYPE holding and signaled the cash will help cover a Ferrari deposit after a sizable on-chain sale late this week.

Based on reports, the move saw Hayes convert a large HYPE stake into roughly $5 million in proceeds, a trade that drew fast attention across social platforms and blockchain trackers.

Hayes Moves And Numbers

According to on-chain data cited by trackers, Hayes sold about 96,628 HYPE tokens in the transaction, realizing roughly $823,000 in profit — a 19% gain on that position.

The sale was flagged by analytics accounts and picked up by multiple crypto news outlets as an outright exit from his HYPE bag. Those figures line up with the on-chain snapshot that first alerted market watchers.

HYPE: The Market Response

Mark

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