Former BitMex CEO Arthur Hayes has set ambitious targets for Hyperliquid, sparking a short-lived surge in the token’s price.
Earlier today, Hyperliquid jumped about 9%, rising from a low of $43 to roughly $47.4. Although the token has since settled around $45, it still posts a modest 2.1% gain for the day.
The rally positions HYPE as one of the few gainers in today’s crypto market, bucking the broader downward trend. Its uptick followed closely on the heels of ambitious price targets set by former BitMex CEO Arthur Hayes.
Could HYPE Hit $5K? Here’s Why Arthur Hayes Believes It Might
At the WebX 2025 conference in Tokyo on August 25, Hayes projected that HYPE could surge more than 126x over the next three years, potentially rising from its current $40 to over $5,000 per token.
Hayes’ forecast is driven by expectations that Hyperliquid will capture a substantial share of the expanding stablecoin market. He anticipates the global stablecoin supply reaching $10 trillion by 2028, with Hyperliquid securing roughly 26.4% of related trading volume. This could boost annualized revenues from $1.2 billion today to $258 billion, offering significant upside potential for the token.
The prediction represents a dramatic increase from his earlier $100 target and stands as one of the most ambitious price calls for Hyperliquid yet. The platform’s growth so far supports this bullish outlook. Hyperliquid has quickly become a leading player in decentralized perpetual futures, claiming around 80% of the market in just over a year.
Data from DefiLlama also shows Hyperliquid ranks second among decentralized exchanges by monthly trading volume, with over $17 billion, trailing only Uniswap. The exchange recently became the world’s most productive company by revenue per employee, generating over $1 billion in annualized revenue with a team of just 11 people.
Meanwhile, HYPE itself has seen strong activity throughout the year. The token reached an all-time high of $49.8 in July and has rallied roughly 300% from this year’s low. Its market cap currently sits at $15.05 billion, with 24-hour trading volume up 112% to $295 million.
Overall, these developments put HYPE on a positive trajectory. Yet, market volatility and broader macroeconomic conditions could impact the token’s performance in the coming years, leaving it uncertain whether Hayes’ ambitious projections will materialize.
