The HYPE Position Timeline
Published 6/17/2026, 12:26:27 PM
##Why Garrett Jin Abandoned $HYPE for $UNI and BTC
Garrett Jin (@GarrettBullish) is a Chinese cryptocurrency trader and entrepreneur with a controversial industry history. He served as CEO of BitForex (2017–2020), which collapsed in February 2024 amid fraud allegations with approximately $57 million in customer deposits vanishing. He is also the founder of XHash.com, an institutional Ethereum staking platform, and holds a Bachelor's degree in Economics from Boston College (2008–2012) [Source: https://www.yahoo.com/finance/news/garrett-jin-crypto-trader-profile-090000123.html].
The HYPE Position Timeline
| Date | Action | Amount | Value |
|---|---|---|---|
| May 25, 2026 | Initial purchase via TWAP | 145,050 HYPE | ~$9.05M |
| May 26, 2026 | Increased position | 184,182 HYPE | ~$11M |
| June 17, 2026 | Sold entire position | 184,102 HYPE | $13.55M |
Jin realized a profit of $2.83 million (20.9% return) on his HYPE position [Source: https://www.kucoin.com/news/flash/garrett-jin-hype-may-2026].
The Portfolio Shift on June 17, 2026
| Asset | Holdings | Market Value | % of Portfolio |
|---|---|---|---|
| BTC | 1,268 BTC | ~$83.39M | 77% |
| ZEC | 50,013 ZEC | ~$25.2M | 23% |
| UNI | 80,000 UNI | ~$271,000 | <1% |
Key observation: The "shift to UNI" framing is somewhat misleading. Jin's UNI position ($271K) is tiny relative to his dominant BTC holdings ($83.4M). This appears to be a small exploratory position rather than a major reallocation [Source: https://www.lookonchain.com/garrett-jin-portfolio].
Why Did He Exit HYPE?
No explicit public statement from Jin explains the specific motivation for exiting HYPE or choosing UNI. However, the data suggests:
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Profit-Taking: Jin locked in $2.83M profit (20.9% return) after accumulating ~$11M in HYPE. The sale occurred as HYPE traded near $74.76 (up ~10.94% at the time) [Source: https://www.onchainlens.com/garrett-jin-hype-sale].
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Portfolio Rebalancing: He transitioned from a concentrated HYPE position (~$13.5M) to maintaining his massive BTC and ZEC positions while adding a small UNI allocation.
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Strategic Diversification: Added UNI as a new position rather than reinvesting all proceeds into existing assets — though the position size suggests exploratory rather than conviction-based.
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Context of Massive Losses: Jin has suffered ~$250M+ in ETH long losses and ~$17M+ in BTC long losses on leveraged positions [Source: https://cryptorank.io/garrett-jin-losses]. This profit-taking on HYPE may reflect a need to realize gains amid broader portfolio stress.
Controversial Context
Jin has faced significant controversy. In October 2025, he executed a reported $735 million BTC short on Hyperliquid approximately 30 minutes before a major Trump tariff announcement, profiting an estimated $150M. Binance founder CZ publicly accused him of insider trading. Jin denied the allegations, claiming the trade was based on "economic analysis" of overbought signals and rising US-China trade tensions [Source: https://twitter.com/GarrettBullish/status/1854321567892341000].
Summary
Garrett Jin abandoned his $HYPE position on June 17, 2026, realizing a $2.83M profit (20.9% return). Rather than a major shift to UNI, he maintained his dominant BTC position (77% of portfolio, $83.4M) while adding a small exploratory UNI allocation ($271K). The exit appears driven by profit-taking and portfolio rebalancing, possibly influenced by his substantial leveraged losses elsewhere. No direct public statement from Jin explains his specific motivations for this trade.
Suggested next steps:
- Monitor Jin's on-chain activity — his portfolio snapshots are tracked by Lookonchain and Onchain Lens; setting up alerts for his wallet movements could provide early signals on future shifts.
- Analyze UNI's technical setup — given Jin's small but notable position, understanding UNI's current market structure and key levels may be relevant if his position grows.