Arthur Hayes's mouth, a liar: he is selling while milking

Author: Azuma, Odaily Planet Daily

BitMEX founder Arthur Hayes seems to have recently "fallen in love" with Hyperliquid (HYPE).

On May 23, Arthur Hayes posted on X that his target in this bull market might be for "HYPE's market cap to surpass SOL."

On June 9, taking advantage of Binance.US's post on X to educate about Hyperliquid, Arthur Hayes again inquired about CZ's plans to list HYPE spot trading, stating: "Does this mean Binance is about to list HYPE spot?"

On June 11, Arthur Hayes updated X again, asking the community whether they believe "Hyperliquid's trading volume will surpass Binance in this bull market?"

With such high-frequency "milking," does Arthur Hayes really have such faith in HYPE's upward potential? The reality may not be that simple.

On June 12, just one day after Arthur Hayes milked HYPE, Hyperliquid community member @obese.potato.pip discovered some interesting movements on-chain—Arthur Hayes seems to be selling HYPE.

According to @obese.potato.pip's monitoring, a suspected Arthur Hayes address transferred multiple batches of HYPE 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.

By tracing on-chain data, we identified the following address: 0xc32235231d29831a2cb2a11e3f9c7f38160fc1dd.

Although mainstream explorers like Etherscan have not marked this address, searching for it on the X platform reveals a lot of content related to Arthur Hayes, thus there is reason to suspect that this address belongs to Arthur Hayes.

Milking while dumping… Although it sounds a bit "shameless," this is not the first time Arthur Hayes has done this.

On December 21 last year, Arthur Hayes posted on X to promote Ethena (ENA), stating: "If a DeFi protocol has not integrated USDe or sUSDe, it should exit."

However, on the same day, Arthur Hayes's marked address released 9.018 million ENA from staking and then transferred 7 million ENA to Binance (at that time, ENA was priced around $1.21, making the total value of these tokens about $8.47 million), and the next day withdrew 7.85 million USDC from Binance using the same address, completely unabashedly dumping.

Afterward, Arthur Hayes also transferred nearly 10 million ENA to CEXs like Bybit to profit from dumping.

Before this, Arthur Hayes had boldly predicted that the price of ENA could break $10.

Looking back at ENA's historical trend, when Arthur Hayes was "milking while dumping," ENA had just regained the $1 mark, showing signs of a washout ending and continuing to rise, but the subsequent trend was a downward spiral, and it has now dropped by over 70%.

This time, with HYPE just breaking $40 and setting a new high, will Arthur Hayes's "milking while dumping" operation repeat the similar script again?