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Arthur Hayes publicly bet $100k that HYPE would surpass the top 10 cryptocurrencies by the end of the year. Three days later, his wallet deposited $18 million into HYPE on the exchange and sold 247k tokens. The price instantly dropped by 4%. Grayscale launched the HYPE ETF on June 1, and the token fell by 25% over 72 hours. Over $20 million in weekly income. $3.22 billion open interest at ATH. $173 million in ETF assets under management with zero outflows on Bitwise even during the crash. The ETF was supposed to be a catalyst for buying. Instead, authorized participants arbitraged it into a liquid exit. All metrics are at ATH except for the price. Hayes' sale as part of his own public bet is the cherry on top.
$HYPE