Arthur Hayes Dumps All Hyperliquid (HYPE) and NEAR Tokens: Here’s the Market Risk He Sees Coming

Arthur Hayes has completely exited his Hyperliquid and NEAR positions after spending more than a year building them. The decision stands out because both investments were among his most visible crypto bets and represented sectors that many investors still view as attractive heading into the second half of 2026.

His involvement with Hyperliquid stretches back to early 2025. Portfolio data and on-chain activity showed heavy accumulation around April 2025 as he rotated capital into the fast-growing decentralized derivatives platform.

That position continued to grow over time. One notable moment came in September 2025 when he sold roughly $5.1 million worth of HYPE to fund a Ferrari purchase. The sale turned out to be temporary. He later bought back aggressively after prices pulled lower.

His final major purchase arrived in April 2026 when he added another 26,022 HYPE tokens worth about $1.1 million. That transaction brought his total position to 247,334 HYPE before the recent full liquidation.

The story was similar for Near Protocol. His NEAR accumulation reportedly began during the middle and later months of 2025. He later described NEAR as part of a core group of favorite altcoins alongside HYPE and ZEC. Additional purchases followed during the first quarter of 2026 as geopolitical tensions increased across several regions.

That history makes his latest decision much more important than a routine portfolio adjustment.

Rising Energy Prices Could Create Problems For Risk Assets

The first concern centers on energy markets. Conflict involving Iran has increased fears about disruptions to key shipping routes, especially around the Strait of Hormuz. Oil markets tend to react quickly whenever supply risks emerge in that region.

Higher energy prices can create inflation concerns across the broader economy. Central banks often become more cautious when inflation pressures rise. Interest rates can remain elevated for longer periods, and liquidity conditions can tighten.

Crypto assets often perform best when liquidity is abundant. A less supportive monetary environment can place pressure on speculative sectors, including altcoins.

That concern appears to be one of the key reasons behind the decision to exit both HYPE and NEAR.

Mega AI IPOs Could Pull Capital Away From Crypto

Another risk comes from traditional financial markets. Several large artificial intelligence companies are expected to pursue public listings between now and early Q3. Those offerings could attract enormous amounts of institutional and retail capital.

Large IPO cycles sometimes pull investment capital away from alternative markets. Investors frequently reduce exposure elsewhere when attractive opportunities emerge in public equities.

Read Also: Why Is Near Protocol (NEAR) Rising as Price Follows Top Analyst Exact Prediction?

Near Protocol could face particular pressure under this scenario because many investors associate the network with artificial intelligence development and AI related blockchain projects.

A strong AI stock cycle may reduce attention and capital available for AI focused crypto assets during the same period.

Political Risks Could Affect AI Related Tokens

Politics also plays a role in the thesis. The concern is that artificial intelligence could become a major election topic ahead of the 2026 US midterm elections. Concerns about job displacement and automation may encourage tougher political rhetoric toward AI companies.

Any increase in regulatory pressure or political uncertainty could affect technology stocks first. Crypto projects linked to AI narratives may experience secondary effects if investor sentiment weakens.

That possibility creates another challenge for Near Protocol, which has increasingly become associated with AI infrastructure and decentralized AI applications.

Why Hyperliquid And NEAR Were Chosen For The Exit

The choice of assets appears deliberate. Hyperliquid remains one of the leading decentralized perpetual futures platforms in crypto. Its success has made HYPE one of the strongest exchange-related tokens during the current cycle.

Near Protocol occupies a different niche but remains closely connected to the AI narrative that has attracted major attention across financial markets.

Read Also: Hyperliquid (HYPE) Price Rally Continues as the Token Breaks Into Crypto’s Top 10

Both assets therefore sit near themes that could experience capital rotation if money moves toward energy, large AI stock offerings, or defensive positions.

The decision was not presented as a prediction that Hyperliquid or Near Protocol will fail. The argument centers more on risk management during a period that could become increasingly volatile.

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