X @CoinDesk

✍️ Arthur Hayes (@CryptoHayes) sold $HYPE not because he lost conviction—he still sees 26x potential by 2028.But in the short term:- Competitors are undercutting fees (China-fication risk)- Token unlocks in Nov = big sell pressure- Revenues not yet strong enough to offset buybacksFund manager play: take profit now, reload lower later.CoinDesk Live from @kbwofficial ...