BitMEX Co-Founder Arthur Hayes Holds Firm on Worldcoin Amid Market Volatility

Arthur Hayes, co-founder of BitMEX, has made headlines in recent weeks with his decision to sell his positions in several cryptocurrencies, including HYPE and NEAR. However, one token that stands out as an exception is Worldcoin, which he has maintained despite the market downturn.

The data suggests that Worldcoin's positioning still shows a bullish stance, with all cohorts holding long positions. In contrast, the other three tokens Hayes sold showed distribution signals, with large holders and exchange inflows indicating a move away from these assets.

Hayes' decision to hold onto Worldcoin may be influenced by his expectation of an AI IPO wave, which he believes will drive demand for the token. His fund has taken a high-beta approach to the listing, treating it as a proxy for the broader AI market.

The signal to watch for would be if the smart money index on Worldcoin begins to slip, similar to what happened with HYPE and NEAR in early June. If this occurs, it could indicate that Hayes' thesis is breaking down and he may be forced to reconsider his position in Worldcoin.