Hayes sold HYPE, ZEC and NEAR — all three rallied afterwards
- —Hayes sold HYPE, ZEC and NEAR in early September, citing rising energy prices and a possible market peak
- —Zcash executed the Ironwood upgrade on July 28 after a vulnerability that could have allowed hidden ZEC creation
- —Shielded ZEC supply rose to 29% by September 24, up from 23.3% a year earlier
- —Hyperliquid generated about $429 million from January 1 to September 15, with nearly 99% of costs going to HYPE buybacks
Why it matters: The case shows that protocol fundamentals such as buybacks, revenue and privacy usage can outweigh even large holders selling.
Source: Newsbit