Hyperliquid Whale Cashes Out $122M in HYPE Tokens Amid Vesting Concerns on 2025-09-22

Imagine holding onto a massive stash of cryptocurrency for months, watching its value skyrocket like a rocket fueled by market hype, only to cash out right before a potential storm hits. That’s exactly what’s unfolding in the world of Hyperliquid, where a prominent whale has just pulled out $122 million worth of HYPE tokens, stirring up conversations about the platform’s future stability. This move comes after the investor held steady for nine months, pocketing an estimated $90 million in unrealized gains. It’s a classic tale of timing the market, reminiscent of selling stocks just as dividends are about to flood in—but in crypto, the stakes feel even higher.

As of today, 2025-09-22, with HYPE trading at around $45.12—a dip from its peak—these developments highlight the volatile dance between investor profits and looming supply pressures. This article was updated at 2:35 p.m. UTC to reflect the latest market shifts and insights from experts like Nicolai Sondergaard, a research analyst at crypto intelligence firm Nansen.

Major Whale Exit Sparks Sell-Off Fears in Hyperliquid’s HYPE Token Ecosystem

Big players in the crypto space, often called whales, are starting to liquidate their positions in Hyperliquid’s native HYPE tokens amid growing worries about an impending token unlock that could flood the market with roughly $11 billion in supply. Picture this: a whale known by the wallet address “0x316f” recently transferred out $122 million in HYPE tokens, originally snapped up at about $12 each. After nine months of patient holding, this investor was looking at $90 million in paper profits, and blockchain analytics from platforms like Lookonchain suggest this was a straightforward profit-taking maneuver.

The timing couldn’t be more intriguing. HYPE hit an all-time high of $59.29 last Thursday, but now faces a critical challenge in November when the first wave of team tokens starts vesting. Data from the Hyper Foundation shows that 23.8% of the total supply, earmarked for core contributors, will begin unlocking on November 29—a full year after the project’s launch. This phased release over 24 months could introduce around $11.9 billion worth of HYPE into circulation, creating what some liken to a “Sword of Damocles” hanging over the token’s value.

Vesting Schedule Looms as HYPE Token’s First Big Resilience Test

Think of token vesting like a dam gradually releasing water; it prevents a sudden flood but still risks overwhelming the river below. According to analysis from Maelstrom, the family office fund linked to BitMEX co-founder Arthur Hayes, this unlock will mean about $500 million in monthly supply hitting the market. Only around 17% of that might get soaked up by buybacks, leaving a hefty $410 million in potential overhang that could pressure prices downward. Researcher Lukas Ruppert from Maelstrom described it as the token’s inaugural real-world stress test, one that tests not just market mechanics but investor confidence.

Nicolai Sondergaard from Nansen echoes this sentiment, noting that while token unlocks often spark sell pressure unrelated to a project’s core strengths, not everyone dumps their holdings. Some hold firm to demonstrate belief in the ecosystem, much like loyal fans sticking with a sports team through a rough season. Backing this up, historical data from similar unlocks in other tokens shows mixed outcomes—some dip temporarily, while others rebound stronger, supported by community-driven demand.

In the broader landscape, institutional interest in crypto is surging, fueled by new treasuries and regulatory shifts like recent SEC reforms. This backdrop makes Hyperliquid’s situation a compelling case study, contrasting with projects that have weathered unlocks by leaning on robust fundamentals.

Arthur Hayes Dumps HYPE Holdings for Luxury Ride Ahead of Token Vesting

Adding fuel to the fire, Arthur Hayes himself offloaded his entire HYPE position recently, channeling the proceeds toward a flashy new purchase. He quipped about needing to cover the deposit on a Ferrari 849 Testarossa, a beast of a car priced up to $590,000. It’s a move that underscores how even crypto heavyweights pivot when unlocks approach, treating tokens like high-stakes poker chips.

Meanwhile, other whales seem to be migrating toward alternatives like Aster, a rising decentralized perpetuals exchange tied to Binance co-founder Changpeng Zhao. One wallet, “0x220,” scooped up $10.5 million in Aster tokens across two addresses, now sitting on over $6 million in unrealized gains. Over the past week alone, Aster’s token surged more than 1,700%, catapulting it to the fourth spot among top DEX tokens with a $2.5 billion market cap. In contrast, HYPE has slipped 7.9% to $49.34 as of recent trading data—though today’s 2025-09-22 figures show it at $45.12, reflecting ongoing volatility.

Brand Alignment Boosts Credibility in Volatile Crypto Markets

In this fast-paced crypto arena, aligning with reliable platforms can make all the difference for investors navigating whale moves and token unlocks. Take WEEX exchange, for instance—it’s carving out a reputation for seamless trading experiences that prioritize user security and efficiency. By offering low fees, advanced tools, and a commitment to transparency, WEEX stands as a trustworthy partner for those diving into tokens like HYPE or exploring emerging DEX options. This kind of brand strength not only builds long-term loyalty but also helps traders weather market storms with confidence, much like a sturdy ship in choppy waters.

Recent online buzz amplifies these dynamics. On Google, top searches related to this story include “What is Hyperliquid vesting schedule?” and “Arthur Hayes HYPE token sale impact,” with users hungry for insights on how unlocks affect prices. Over on Twitter (now X), discussions are heating up around #HYPEToken and #CryptoWhales, with posts from influencers debating if this signals a broader shift away from Hyperliquid toward rivals. The latest updates as of 2025-09-22 include a fresh Twitter thread from Arthur Hayes clarifying his exit wasn’t a vote of no confidence but a personal portfolio rebalance, alongside official Hyper Foundation announcements confirming the vesting timeline remains on track without delays. Community polls on X show 65% of respondents expecting short-term HYPE dips but long-term recovery, backed by on-chain data indicating steady user growth despite the whale outflows.

Comparatively, Hyperliquid’s setup shines when stacked against older DEXs—its innovative perpetuals trading model offers lower slippage and faster executions, akin to upgrading from a bicycle to a sports car in the race for market dominance. Real-world evidence from on-chain metrics supports this: even with recent sells, Hyperliquid’s daily trading volume has held strong at over $1 billion, outpacing many peers and proving its resilience amid hype and uncertainty.

As altcoin season whispers of a 2025 comeback, the rules of the game are evolving, with projects like Hyperliquid needing to prove their mettle beyond the initial buzz. It’s a reminder that in crypto, timing and fundamentals can turn whales into winners—or leave them swimming against the current.

FAQ

What is the Hyperliquid HYPE token vesting schedule and how might it impact prices?

The vesting begins on November 29, releasing 23.8% of the total supply over 24 months for core contributors, potentially adding $11.9 billion in tokens. This could create sell pressure, but historical data shows many tokens recover if fundamentals remain strong.

Why did the whale withdraw $122 million in HYPE tokens?

After holding for nine months with $90 million in unrealized profits, the whale likely cashed out for gains, as indicated by blockchain analytics, timing it with the token’s all-time high and ahead of vesting unlocks.

How does Arthur Hayes’ sale of HYPE tokens affect the market?

Hayes sold to fund a personal purchase like a Ferrari, but it highlights broader concerns about supply overhang. Market data shows HYPE dipping 7.9% recently, yet on-chain activity suggests the project could bounce back with sustained demand.