At the WebX Asia conference, BitMEX co-founder Arthur Hayes set the stage for one of the boldest DeFi predictions of the year, pointing to Hyperliquid’s native token, HYPE, as a potential 126x play.
His thesis rests on the exchange’s rapid growth and the projected boom in stablecoin trading.
Hayes’ Bull Case for HYPE
According to Hayes, the decentralized exchange has positioned itself as a frontrunner to capture a massive portion of the global stablecoin market, which he believes could balloon to $10 trillion by 2028. If Hyperliquid secures even a quarter of that activity, its revenues could skyrocket from today’s $1.2 billion to more than $250 billion annually.
Using a 5% discount rate, Hayes calculated a terminal value of over $5 trillion for the protocol. Against a fully diluted valuation of $41 billion, that leaves what he describes as 126x upside potential for the HYPE token — eclipsing his earlier forecast that targeted $100 per coin.
Hyperliquid vs. the Giants
The decentralized exchange is already flexing its strength against established rivals. Data from Syncracy Capital co-founder Ryan Watkins shows Hyperliquid’s BTC spot market surpassing the combined 24-hour trading volumes of Coinbase and Bybit. This surge in activity underscores how quickly the platform is establishing itself as a go-to hub for digital asset trading.
Hyperliquid now facilitates seamless large-scale transactions across BTC, ETH, and SOL, with nine-figure deposits and withdrawals settling in minutes. Its “everything exchange” approach has also drawn the attention of regulated entities, including stablecoin issuer Circle, which has started moving assets onto the DEX.
[readm0re id=”109109″]
HYPE Price Momentum Builds
From its April lows, HYPE has already gained 300%, trading near $45 and climbing into the top 15 cryptocurrencies by market cap. Trading volume has surged by 78% to $278 million in just one day, signaling that market participants are betting heavily on further upside.
With Hayes’ 126x projection now circulating, investor attention on Hyperliquid is likely to intensify. If the exchange continues to expand at its current pace, the HYPE token could become one of the most watched assets in the next cycle.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Source: https://coindoo.com/forget-coinbase-and-bybit-hyperliquid-could-be-the-next-giant-says-hayes/