According to the source, Arthur Hayes sold $HYPE while still projecting 26x upside by 2028, citing short-term risks including competitors undercutting fees, a November token unlock that could add sell pressure, and revenues not yet sufficient to offset buybacks (source: remarks attributed to Arthur Hayes via the source covering a session at Korea Blockchain Week). He outlined a fund-manager playbook to take profit now and reload lower later, highlighting fee competition and the November unlock as near-term catalysts for $HYPE price action (source: remarks attributed to Arthur Hayes via the source).