|
Getting your Trinity Audio player ready...
|
- Arthur Hayes projects HYPE token could see 126x upside by 2028.
- Hyperliquid recently surpassed Coinbase and Bybit in BTC trading volume.
- HYPE price has rallied 300% since April, with strong bullish momentum.
At the WebX Asia conference, BitMEX co-founder Arthur Hayes made a striking prediction, projecting a 126x upside for Hyperliquid’s native token, HYPE. Hayes argued that Hyperliquid is well-positioned to capture enormous value from the expanding stablecoin market and its surging decentralized exchange (DEX) revenue.
Hayes Sees Stablecoin Boom Driving HYPE
According to Hayes, the global stablecoin supply could reach $10 trillion by 2028, with Hyperliquid capturing a significant share of associated trading volume. The platform recently surpassed $6.2 billion in Assets Under Management (AUM), and Hayes expects annualized revenues to grow from today’s $1.2 billion to $258 billion within four years.
Applying a 5% discount rate, Hayes calculated the terminal value of HYPE token revenues at over $5.1 trillion, implying a fully diluted valuation of $41 billion. This would create what he calls a 126x upside opportunity for early investors, far more ambitious than his earlier $100 HYPE target.
Hyperliquid Challenges Coinbase and Bybit
Hyperliquid’s rapid rise has already disrupted the exchange landscape. The DEX has recently outperformed Coinbase and Bybit combined in BTC spot trading volume, a milestone that highlights its growing market dominance. Industry analyst Ryan Watkins noted that Hyperliquid is evolving into an “everything exchange,” serving a wide spectrum of traders with seamless execution and large-scale transactions.
“Just now, BTC spot on Hyperliquid did more 24H volume than Coinbase and Bybit combined.”
— Ryan Watkins (@RyanWatkins_) August 24, 2025
The market is not pricing in Hyperliquid spot markets ramping alongside perps.
The Everything Exchange™️ https://t.co/BhscwcfqIL pic.twitter.com/vkPyY0KSK0
Notably, even major players like Circle, the issuer of USDC stablecoin, have moved assets onto Hyperliquid, signaling growing institutional confidence in its decentralized infrastructure.
Also Read: Hyperliquid Sets $319B Record in DeFi Perpetuals, Captures 35% of Blockchain Revenue
HYPE Price Momentum Signals Strong Demand
Despite broader crypto market weakness, HYPE has rallied 300% since April lows and now trades near $45, ranking among the top 15 cryptocurrencies by market cap. With daily trading volumes up 78% to $278 million, market sentiment remains highly bullish.
Arthur Hayes’ 126x projection for HYPE stands as one of the boldest DeFi forecasts to date. Backed by surging trading volumes, institutional adoption, and a rapidly growing stablecoin ecosystem, Hyperliquid’s trajectory positions it as a serious challenger to centralized giants like Coinbase and Bybit. For investors, HYPE may be one of the most closely watched tokens in the next market cycle.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
