BitMEX co-founder Arthur Hayes sold $HYPE tokens today, possibly due to the upcoming major unlock pressure. According to the Maelstrom Fund report, starting from November 29th, tokens worth a total of $11.9 billion (237.8 million HYPE tokens) will be linearly unlocked over 24 months, with approximately $500 million unlocked each month. The current repurchase capacity can only absorb 17%, meaning there will be an excess supply of approximately $410 million per month. Although projects like DAT, including Sonnet, have raised $583 million in HYPE tokens and $305 million in cash, the scale is still difficult to cope with the upcoming unlock pressure. Nevertheless, Hayes remains optimistic about the possibility of HYPE achieving a 126-fold growth by 2028.