Arthur Hayes Stakes $45M Bet on HYPE’s 126x Future

Arthur Hayes, co-founder of BitMEX and a prominent figure in the cryptocurrency space, has made one of the most striking predictions in recent memory, forecasting a 126x gain for Hyperliquid’s native token, HYPE, over the next three years. The statement was made during a keynote at the WebX 2025 conference in Tokyo, where Hayes attributed the potential surge to the expansion of stablecoins and Hyperliquid’s growing dominance in the decentralized perpetual futures market [1].

Hyperliquid is currently experiencing a surge in activity, with total open positions hitting an all-time high of 198,397 and open interest crossing $15 billion. According to Hypertracker, total wallet equity on the platform peaked at $31 billion, while the DEX’s trading volume reached an all-time high of $1.56 billion over the weekend. The platform’s transaction fees also reached $93 million in July 2025, indicating strong usage and liquidity [1]. At the time of the forecast, HYPE was trading at approximately $45.64, with a market capitalization of $14.76 billion based on a circulating supply of 334 million tokens out of a max supply of 1 billion [2].

Hayes explained that the rise of stablecoins would be a critical driver for Hyperliquid’s growth. He projected that global stablecoin supply could reach $10 trillion by 2028, with Hyperliquid capturing 26.4% of that market. Based on this assumption, he estimated that Hyperliquid’s daily trading volume could jump from $11.9 billion to $2.63 trillion, translating to $25.8 billion in annual fees at a standard 0.03% commission rate. This level of growth, according to Hayes, would justify a 126x increase in the value of the HYPE token [3].

The performance of Hyperliquid has already shown signs of outpacing its competitors. According to Redstone, a data provider, Hyperliquid has captured over 75% of the decentralized perpetual futures market in less than two years, a position previously held by dYdX. The platform now processes up to $30 billion in daily trading volume, approaching Binance’s level on certain trading pairs. In addition, the total value locked in Hyperliquid’s derivatives DEX stands at $685 million, nearing its February 2025 peak [1].

Hayes also emphasized the structural advantages of Hyperliquid’s platform, particularly its gas-free, Ethereum-compatible Layer-1 blockchain, which supports efficient on-chain order books and fast execution. These features are expected to attract traders seeking cost-effective and high-performance trading environments, especially as the DeFi sector continues to evolve [4].

The bullish outlook has not gone unnoticed by traders and investors. HYPE has seen a 263% increase in price over the last year and a 109% gain over the past month. On July 14, 2025, the token hit an all-time high of $49.84, a price it remains close to as of August 2025. Hayes himself reportedly purchased 58,631 HYPE tokens, a move seen by many as a strong vote of confidence in the platform’s future [3].

Despite the optimism, analysts caution that the platform’s success is closely tied to broader crypto market conditions. A sustained downturn in Bitcoin or Ethereum, which account for a significant portion of the volume on Hyperliquid, could impact the exchange’s performance. Nevertheless, the combination of stablecoin growth, DeFi adoption, and a scalable infrastructure has positioned Hyperliquid as a key player in the evolving decentralized trading landscape [4].

Source:

[1] Hyperliquid spikes as Arthur Hayes predicts 126x upside in ... (https://cointelegraph.com/news/hyperliquid-hype-spikes-arthur-hayes-predicts-126x-upside)

[2] Hyperliquid Price, HYPE Price, Live Charts, and Marketcap (https://www.coinbase.com/price/hyperliquid)

[3] Here is Why Arthur Hayes Predicts 126x Surge for ... (https://cryptodnes.bg/en/here-is-why-arthur-hayes-predicts-126x-surge-for-hyperliquid-by-2028/)

[4] Hyperliquid Hits $3.4B in 24-Hour Spot Volume, Becomes ... (https://coinfomania.com/hyperliquid-record-spot-volume/)