BitMEX co-founder Arthur Hayes, a leading figure in the cryptocurrency market, is back in the spotlight with his recent $22.28 million cryptocurrency sale, sparking debate about his past transactions. The fact that some altcoins he sold in 2026 subsequently experienced significant price increases has fueled criticism of his market timing.
According to the shared price comparison, all four altcoins that Hayes sold off in June are trading above their selling levels.
Hyperliquid (HYPE) surged 24%, rising from approximately $65.2, the price at which Hayes was selling, to $81. NEAR Protocol (NEAR) also saw a 120% increase, climbing from $2.23 to $4.91.
The most remarkable performance was seen in Zcash (ZEC). ZEC, which Hayes reportedly sold for around $390, reached $1,220 in the comparison, showing an increase of over 200 percent. Worldcoin (WLD), on the other hand, rose from $0.41 to $0.58, gaining approximately 40 percent in value.
Arthur Hayes First Gave a $150 Target, Then Sold the Hype
Among Hayes’ past projects, Hyperliquid was one of the most controversial.
The renowned investor argued on June 1st that HYPE would outperform all cryptocurrencies in the top 10 by market capitalization by the end of the year. Hayes had also previously shared a price target of $150 for HYPE by August.
However, just three days after these optimistic statements, on June 4th, HYPE announced that it was closing its entire position.
Similarly, although Hayes described HYPE, ZEC, and NEAR as the “holy trinity” of the cryptocurrency market on May 22, he closed his positions in all three assets by June 5.
The ZEC sell-off was triggered by a security vulnerability related to Zcash’s Orchard privacy pool. Following this development, the ZEC price experienced a sharp decline, and Hayes sold off his assets, citing technical risks.
A similar scenario unfolded with Worldcoin. Hayes decided to sell just one day after stating that he would continue holding WLD during SpaceX’s IPO process.
Following these developments, on-chain researcher ZachXBT accused Hayes of using his followers as exit liquidity for his own sell-offs. This assessment was based on the contradiction between Hayes’s publicly delivered bullish messages and the sell-offs he subsequently carried out.
On the other hand, it was reported that a wallet linked to Hayes repurchased $2 million worth of HYPE at approximately $59 on June 8th. The fact that HYPE rose to $97.96 in September also reignited discussions about the timing of the investor’s transactions.
Now They’re Selling Ethereum, ENA, and UNI
In his latest statement on October 24, Hayes confirmed that investment firm Maelstrom had closed all positions in its directional trading portfolio.
While Ethereum (ETH), Ethereum (ENA), and Uniswap (UNI) accounted for the largest portion of the approximately $22.28 million in transactions, Hayes stated that he believes the market may fall again before rising due to macroeconomic and geopolitical uncertainties.
However, ETH and ENA prices are hovering near the levels where the recent sell-off occurred. Therefore, it’s too early to assess whether Hayes is exiting at the right time this time.
*This is not investment advice.
