Author | Azuma, Odaily
BitMEX founder Arthur Hayes seems to have recently "fallen in love" with Hyperliquid (HYPE).
- On May 23rd, Arthur Hayes posted on X, stating that his goal in this bull market might be "HYPE market cap surpassing SOL".
- On June 9th, when Binance.US posted an educational piece about Hyperliquid on X, Arthur Hayes again posted, asking CZ about Binance's plan to list HYPE spot and said: "Does this mean Binance is about to list HYPE spot?"
- On June 11th, Arthur Hayes updated X again, asking the community whether they think "Hyperliquid's trading volume will exceed Binance in this bull market".
With such high-frequency "pumping", does Arthur Hayes truly believe in HYPE's growth potential? The truth might not be that simple.
On June 12th, just one day after Arthur Hayes finished "pumping" HYPE, Hyperliquid community member @obese.potato.pip discovered some interesting on-chain movements - Arthur Hayes seems to be selling HYPE.
According to @obese.potato.pip's monitoring, the suspected Arthur Hayes address transferred multiple HYPE batches yesterday, including 73,000 HYPE (about $3 million) to Flowdesk, 40,000 HYPE (about $1.64 million) to Wintermute, 53,000 HYPE (about $2.2 million) to Galaxy, and 55,000 HYPE (about $2.3 million) to Gate.
Through on-chain data tracking, we located the following address: 0xc32235231d29831a2cb2a11e3f9c7f38160fc1dd.
Although mainstream browsers like Etherscan have not labeled this address, searching the address on X platform reveals multiple contents associated with Arthur Hayes, thus reasonably suspecting the address belongs to Arthur Hayes.
Pumping while dumping... Although it sounds somewhat shameless, this is not the first time Arthur Hayes has done this.
On December 21st last year, Arthur Hayes posted on X to pump Ethena (ENA), stating: "If a DeFi protocol hasn't integrated USDe or sUSDe, it should be out."
However, on the same day, the marked address unstaked 9.018 million ENA tokens, then transferred 7 million ENA to Binance (at the time ENA was about $1.21 per token, totaling around $8.47 million), and withdrew 7.85 million USDC from Binance the next day, openly dumping.
Afterwards, Arthur Hayes also transferred nearly 10 million ENA to CEXs like Bybit to dump and profit.
Prior to this, Arthur Hayes had boldly predicted that ENA's price could break $10.
Looking back at ENA's historical trend, when Arthur Hayes was "pumping while dumping", ENA had already risen above $1, showing a potential to continue rising after washing out, but the subsequent trend was downward, now dropping over 70%.
This time, HYPE just broke $40 and hit a new high, with Arthur Hayes again performing a "pump while dump" operation. Will a similar script play out again?
