You ran away again! A review of Arthur Hayes' market exit records

The original text comes from Odaily Planet Daily https://www.odaily.news/zh-CN/post/5206523

Little Black Brother Arthur Hayes's calls may not be trustworthy, but his actual operations are truly worth retail traders learning from.

As the industry's most well-known market prophet, although Arthur Hayes is always bullish in the long run, he is ruthless when it comes to selling or wanting to sell, even disregarding the face of industry bigwigs, while pumping and dumping ------ see more in "When Arthur Hayes suddenly pumps the coin you bought, you should be cautious."

Hasu, the strategic director of Flashbots, once commented on Arthur Hayes, saying: "If you got any long-term signals from Arthur Hayes, I really don't know what to say to you. He is one of the purest traders in this market."

HYPE ------ "Although I see 126 times, I'm fine with 15%"

The recent Hyperliquid (HYPE) is a perfect example.

On August 25, Arthur Hayes gave a speech at Japan's WebX, pumping HYPE, which still had a potential increase of up to 126 times ------ by the end of the day, HYPE's price was about $45.9.

Who would have thought that less than a month later, on the day after HYPE set a new all-time high (September 21), Arthur Hayes sold off 96,600 HYPE, cashing out about $5.1 million ------ the average selling price was about $52.8, only a 15% increase from the price when Arthur Hayes called for a 126 times expectation…

Afterwards, Arthur Hayes's family investment office Maelstrom released the logic behind the HYPE sell-off: HYPE is about to face its real test. Starting from November 29, 2025, 237.8 million HYPE tokens will begin to unlock linearly over 24 months. At $50 per token, this amounts to $11.9 billion in team unlocks, with nearly $500 million worth of tokens entering the market each month. Analysis indicates that the current buyback capacity can only absorb about 17% of the unlocked tokens, leaving about $410 million/month in token oversupply. The token unlock is a potential "sword of Damocles."

Arthur Hayes jokingly stated, "The dump is to pay the deposit for the luxury car Rari 849 Testarossa," and "126 times is still possible, but 2028 is still far away"…

It's hard not to be shocked by Arthur Hayes's thick skin, but it's also hard not to agree with his timing for exiting.

On the day Arthur Hayes sold, not only had HYPE just set a new all-time high, but the heat in the Perp DEX track was also rising, becoming the industry's main narrative at this stage. However, since Arthur Hayes's sell-off, HYPE has rapidly declined along with the overall market weakness, currently reported at $44.18, even lower than the price when Arthur Hayes called for a 126 times expectation.

ETHFI ------ "This is true value capture, oh how did it suddenly go on Upbit…"

Similar examples are not limited to the recent HYPE.

Just two days before Arthur Hayes sold HYPE, he also played a similar operation with ether.fi (ETHFI).

Around 3:00 PM on September 18, Arthur Hayes was enthusiastically interacting with his investment project ether.fi, praising its economic model for allowing value to flow back to ETHFI holders.

Around 11:00 AM on September 19, the South Korean exchange Upbit suddenly announced the listing of ETHFI, which surged to a high of $1.695 that day, setting a new high in nearly six months. Arthur Hayes showed no hesitation, turning around and dumping 1.216 million ETHFI, worth about $1.89 million.

Afterwards, ETHFI's price fell back to around $1.2 as the market declined, and Arthur Hayes successfully exited again.

ENA ------ A classic case, let's look at it again

When it comes to Arthur Hayes's classic exit case, ENA is definitely worth mentioning.

Around December last year, ENA had just completed its first round of washout after going live, with the price back above $1, showing signs of continuing upward momentum. At that time, Arthur Hayes had pumped ENA, suggesting it could break through $10. However, while pumping, Arthur Hayes was quickly selling through exchanges like Binance and Bybit.

Later, everyone became familiar with ENA, after Arthur Hayes's dump, ENA's trend weakened rapidly, dropping to a low of $0.22, while Arthur Hayes began to calmly rebuild his position at the bottom, potentially pocketing tens of millions of dollars with his entry and exit.

Recently, perhaps having rebuilt a sufficiently substantial ENA position, Arthur Hayes has started to pump ENA frequently again ------ if there are any market fluctuations, please be cautious.

Little Black has also made mistakes: after dumping ETH, he had to buy back

Although Arthur Hayes's exit record is excellent, it seems limited to the altcoin market where he has a greater influence; in the case of ETH, Arthur Hayes has flipped multiple times this year.

During this round of ETH's strong surge, Arthur Hayes attempted to exit several times but was ultimately "conquered by the rise" and was forced to raise prices to buy back his entire position.

When discussing his buyback operation, Arthur Hayes even swore, "I will never take profits again"…… but given his trader nature, few people really believe him when he says this.

Recent movements, selling ONDO

This morning, Arthur Hayes had new operational moves again ------ last night, his address received 26.28 million ONDO (worth about $24.7 million) from the Ondo project party address, which has since been transferred in batches to Coinbase, Bybit, Binance, and OKX, suspected to be in the process of selling.

Looking at ONDO's current price position, although it can't be considered a top, it is also at a relatively high level. Combined with Arthur Hayes's past operational cases, ONDO holders may need to pay closer attention to the price trends. ```