Fresh blockchain data has sparked speculation that Arthur Hayes may have reentered the HYPE market just days after announcing he had exited his position. However, Hayes has firmly denied making any new purchases.
According to blockchain analytics platform Lookonchain, a wallet linked to Hayes withdrew 33,978 HYPE tokens worth approximately $2.09 million from Bybit during Monday’s Asian trading session.
The reported transaction attracted significant attention because it came only four days after Hayes publicly stated that he had sold his entire HYPE position while the token was trading above $72 in order to secure profits.
Hayes Rejects Purchase Claims
Following Lookonchain’s report, HYPE gained roughly 2%, with some traders interpreting the wallet activity as a sign that Hayes was returning to the market.
Hayes quickly dismissed those assumptions. Responding to the claims on social media, he bluntly denied purchasing any HYPE tokens.
His response has done little to end the debate, as market participants continue to speculate about the ownership of the wallet identified by blockchain trackers.
Community Still Critical After Previous Sale
When Hayes previously revealed that he had exited his HYPE holdings, the token experienced a sharp decline, falling from above $72 to around $54 before beginning a recovery.
Since then, HYPE has regained much of the lost ground and is currently trading above $61.
The controversy has fueled criticism from parts of the crypto community. Some traders accused Hayes of promoting the token before taking profits, while others argued that investors who mirrored his trades suffered losses as a result of the sudden sale.
The criticism has persisted even after his denial of the latest purchase. Several users on X claimed that influential market participants often benefit at the expense of smaller investors, warning traders against becoming “exit liquidity” for prominent figures.
Others alleged that public endorsements followed by well timed trading activity create an uneven playing field for retail investors.
Large HYPE Withdrawals Continue
Despite the ongoing debate surrounding Hayes, blockchain data suggests investor demand for HYPE remains strong.
Lookonchain reported that a newly created wallet withdrew an additional 82,089 HYPE tokens valued at approximately $5.16 million from exchanges on Monday.
The same wallet has reportedly accumulated around 1.14 million HYPE over the past week, worth nearly $79.2 million. The tokens were subsequently transferred to the Hyperliquid ecosystem and committed to staking.
Hyperliquid Reaches Major Milestone
Interest in HYPE has been supported by the rapid growth of Hyperliquid, which has emerged as one of the leading decentralized derivatives exchanges since launching in 2023.
This month, HYPE entered the top ten cryptocurrencies by market capitalization after surpassing Dogecoin. The achievement marks the first time since Uniswap in 2021 that a decentralized finance protocol has broken into the industry’s top ten assets by market value.
While questions remain about the wallet activity linked to Hayes, continued large scale accumulation and staking activity suggest that confidence in HYPE remains strong among major market participants.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
