Bitcoin News Today: Arthur Hayes Sees 126x HYPE Gains as Stablecoin Era Kicks In

Arthur Hayes, co-founder of BitMEX, has made a highly bullish prediction for the HYPE token, native to the decentralized derivatives exchange Hyperliquid. During his remarks at the WebX 2025 conference in Tokyo, Hayes forecasted a 126x return on the token over the next three years, attributing this to the growing stablecoin market and the platform’s expanding market share. According to his analysis, the global stablecoin supply is expected to reach $10 trillion by 2028, with Hyperliquid capturing a 26.4% share of the associated trading volume. This growth trajectory, he argued, could propel annualized revenues from the current $1.2 billion to an estimated $258 billion by the same timeframe [1].

Hyperliquid has already shown robust growth metrics. As of late July 2025, the platform’s total open positions reached an all-time high of 198,397, and open interest climbed above $15 billion. Total wallet equity peaked at $31 billion, while daily trading volume surged to $3.4 billion, positioning the exchange as a top player in BTC spot trading. The platform’s daily transaction fees have also reached an all-time high of $93 million this month, with total value locked currently at $685 million. These figures underscore Hyperliquid’s rapid ascent in the decentralized exchange space [1].

The HYPE token, currently trading at approximately $45.64, has surged by nearly 4% in the last 24 hours. Its all-time high was reached at just below $50 on July 14, 2025, and it remains within 7% of that peak. The token’s market capitalization stands at $14.76 billion, with a fully diluted valuation of $44.21 billion. Over the past year, the HYPE token has delivered a 263% return, outperforming both Bitcoin and Ethereum. Additionally, HYPE’s supply-weighted price-to-earnings (SWPE) ratio has dropped to 2.95, the lowest since April 2025, suggesting a potential undervaluation relative to its fundamentals [1].

Hyperliquid is not only growing in volume but also in influence. A recent report by Redstone noted that the platform has captured over 75% of the decentralized perpetual exchange market in less than two years, surpassing previous leaders such as dYdX. The exchange now processes up to $30 billion daily, approaching the trading volumes of major centralized exchanges like Binance on certain pairs. This expansion has been further supported by institutional activity, including significant BTC deposits and ETH withdrawals executed within minutes on its decentralized infrastructure. Notably, Hyperliquid recently recorded a 24-hour BTC spot volume that exceeded the combined totals of Coinbase and Bybit [3].

Analysts have also highlighted the token’s strong technical indicators. HYPE has demonstrated resilience despite broader market volatility, maintaining positive momentum against Bitcoin and Ethereum. The token’s relative strength index (RSI) remains supportive, with the indicator holding near 63, indicating room for further upside without overextension. Some analysts suggest that Fibonacci extensions point to potential price targets of $51 and $55 as the next key levels to watch [2].

Looking ahead, the convergence of growing platform revenues, a low valuation ratio, and strong relative performance suggests a compelling case for continued upside in HYPE. However, as with all crypto assets, market volatility and macroeconomic factors could influence short-term price action. The projections made by Arthur Hayes remain speculative and should be treated as forward-looking scenarios, not guarantees. Investors are advised to conduct their own due diligence before making any investment decisions [1].

Source:

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

[2] Hyperliquid (HYPE) Price Prediction: Strong Fundamentals ... (https://bravenewcoin.com/insights/hyperliquid-hype-price-prediction-strong-fundamentals-signal-push-towards-55-breakout-zone)

[3] Arthur Hayes Gives 126x Upside Potential for Hyperliquid ... (https://coingape.com/arthur-hayes-gives-126x-upside-potential-for-hyperliquid-at-a-massive-5-trillion-fdv)