Arthur Hayes recently exited his positions in ZEC, NEAR, HYPE, and Worldcoin (WLD), intensifying market debate. The focus is not only on which tokens were sold, but also on the fact that these moves occurred after he publicly expressed bullish views.
WLD's upward momentum is weakening
Previously, Hayes referred to HYPE, ZEC, and NEAR as his "holy trinity." In June, he added WLD to his list, highlighting its strong performance and cautioning against underestimating narratives related to Musk.
Crypto analyst Stacy Muur believes that this rally in WLD is closely tied to Hayes’s market influence. Reports show that WLD rose approximately 68% from around $0.24 to $0.59 over three weeks, while the broader crypto market declined by nearly 10% during the same period.
Maelstrom also provided a bullish case for WLD. The firm believes that AI companies such as OpenAI and Anthropic are difficult for retail investors to access directly, while WLD offers a more liquid exposure to the AI theme.
After selling, multiple cryptocurrencies weakened.
ZEC experienced the most significant decline after Hayes sold off. The report noted that, following the disclosure of the Orchard Pool vulnerability and Hayes's exit from his position, ZEC's price dropped by nearly 30%.
- ZEC: Declined nearly 30% after withdrawal
- WLD: Pullback from a high of approximately $0.59
- NEAR, HYPE: Weakened in sync after selling
HYPE and NEAR also weakened after their exits, but neither project had clear, individual negative catalysts at the time. Regarding WLD, as the AI narrative cooled down, the price retreated from its recent high and moved back toward the $0.50 range.
Concerns about herd selling are intensifying
This round of continuous selling triggered more direct criticism. On-chain investigator ZachXBT publicly questioned Hayes, asking whether his followers provided "exit liquidity" for NEAR, HYPE, ZEC, and WLD in recent days.
Market sentiment is currently divided. Some traders believe it is not uncommon to take profits when the overall market weakens; others question why positions are being sold off so quickly after a strong bullish signal has been publicly released.
The core of the dispute lies in whether Hayes was simply conducting normal fund reallocation or if his market influence amplified the risks of follow-on trading. In the short term, the market will closely monitor the subsequent performance of the relevant tokens and whether he continues to adjust his positions.