Arthur Hayes bought 1.1 million dollars in HYPE after a 3-month break
BitMEX co-founder Arthur Hayes added to his HyperLiquid (HYPE) position by buying 26,022 tokens worth about $1.1 million.
The purchase, suggested by on-chain tracker Lookonchain, marks the first HYPE rally in three months, indicating renewed confidence in the token.
Why Arthur Hayes doubles down on hyper fluid
With this latest increase, the total holding now stands at 247,334 HYPE, worth approximately $10.44 million. The position is set at a profit of 27.22%, which is equal to a profit of $ 2.23 million.
This reflects a strong return on initial investment despite wide market volatility in the crypto space. The renewed stock follows Hayes' April 8 public announcement.
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Hayes maintained a $150 price target on the stock in August 2026, which represents a roughly 266% upside from current levels. The executive pointed to Hyperliquid's revenue model as a key driver.
The platform reimburses 97% of trading fees to buy back HYPE and burn it from the open market, creating a cost reduction that directly links value to platform usage.
Meanwhile, the acquisition comes as institutional interest in HYPE is also increasing. Bitwise filed an amended registration statement with the SEC, adding ticker BHYP and a management fee of 0.67%.
According to Bloomberg analyst Eric Balchunas, these additions usually indicate that a fund may be launched soon. Last month, Greyscale filed its own S-1 filing to list the Greyscale HYPE ETF on the Nasdaq Btcr GHYP.
ETF adoption could open the door for significant institutional capital to flow into HYPE, which could lead to wider adoption and acceleration in renewables prices.
HYPE has been one of the strongest performers over the past year, gaining about 176% according to CoinGecko data. However, it has not escaped broader market pressure.
The token fell roughly 2% to $40.91 in the last 24 hours as the US and Iran failed to reach an agreement.
Meanwhile, decentralized exchange activity is contracting across the board. Total DEX point volume fell 23.9 percent in March to $212 billion, the lowest monthly figure since October 2024.
Monthly DEX volume fell to $699 billion in March, down from a peak of $1.369 trillion in October 2025, according to Defillama data. Hyperliquid still leads the Perpend segment, but a five-month decline raises questions about whether fee-driven recoveries will continue to accelerate if business activity continues.
Whether ETF approvals and continued whale stocks can offset that macro softening remains a key question for HYPE holders heading into Q2.
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