Former BitMEX CEO Arthur Hayes predicts Hyperliquid’s HYPE token could skyrocket 126x by 2028, fueled by $10 trillion stablecoin adoption and a US strategy to seize $34 trillion in global deposits.
Former BitMEX CEO Arthur Hayes has published his boldest crypto prediction yet, forecasting that Hyperliquid’s HYPE token could surge 126x from current levels by 2028 as stablecoin adoption reaches $10 trillion and transforms decentralized trading.
Hayes believes Treasury Secretary Scott Bessent’s policies could create the largest DeFi bull market in history.
Hayes’ thesis centers on his belief that the Trump administration will weaponize stablecoins to capture $34 trillion in Eurodollar deposits and Global South bank holdings, forcing these funds into U.S. Treasury bills through compliant stablecoin issuers.
The former crypto executive argues this represents a “once in a century change of the global monetary architecture” that will supercharge decentralized finance applications.
The prediction comes as Hayes maintains substantial positions through his investment fund, Maelstrom, in Ethena (ENA), also known as Ether.fi (ETHFI), and Hyperliquid (HYPE).
His analysis projects ENA could gain 51x and ETHFI could achieve 34x returns by 2028 based on massive stablecoin adoption driving DeFi usage.
Hayes nicknamed Treasury Secretary Scott Bessent “Buffalo Bill” for his anticipated dismantling of the Eurodollar banking system, comparing the strategy to taking control of foreign non-dollar deposits.
The analysis suggests that Meta’s WhatsApp and other U.S. tech platforms will serve as distribution channels for dollar-pegged stablecoins, reaching billions of users globally, thereby bypassing local banking systems and regulatory restrictions.
Hayes outlines how Bessent could redirect $10-13 trillion in Eurodollar deposits by threatening to withdraw Federal Reserve support for foreign banks during the next financial crisis.
This policy shift would force Eurodollar depositors to comply with stablecoin issuers like Tether, which invest exclusively in U.S. bank deposits and Treasury bills.
The strategy extends to capturing $21 trillion in Global South retail deposits through U.S. social media platforms equipped with crypto wallets.
Hayes envisions WhatsApp providing seamless stablecoin payment functionality to users in countries like the Philippines, effectively creating digital dollar bank accounts for billions while bypassing local banking regulations.
Central banks in emerging markets would lose monetary control as citizens adopt dollar-pegged stablecoins for daily transactions.
