Hyperliquid price rally after Arthur Hayes’ 126x prediction

Former BitMex CEO Arthur Hayes has shared bold targets for Hyperliquid, triggering a brief rally in the token’s price.

Hyperliquid (HYPE) recorded a brief rally in the early hours of today, climbing roughly 9% from a low of $43 to around $47.4. While the token has since readjusted to trade at its current value of approximately $45, it remains in the green on the day, posting a modest 2.1% gain.

The rally places HYPE among the few gainers in the crypto market today, defying the broader downward trend. But its performance was not isolated, and came shortly after the bold price targets shared by former BitMex CEO Arthur Hayes.

HYPE price to $5k? Here’s why Arthur Hayes thinks so

At the WebX 2025 conference in Tokyo on August 25, Hayes revealed that he expects HYPE to rise over 126x in price over the next three years. This would take the token’s value from its current $40 level to more than $5,000 per HYPE.

The forecast is based on expectations for Hyperliquid to capture a significant share of the growing stablecoin market. Hayes projects that the global stablecoin supply will reach $10 trillion by 2028, with Hyperliquid taking roughly 26.4% of associated trading volume. This would push annualized revenues from $1.2 billion today to $258 billion, providing strong upside for the token.

The analyst’s predictions mark a big jump from his $100 calls from earlier in the year, and marks one of the biggest price targets for the native token. Hyperliquid’s growth so far supports the bullish outlook. The platform has become a major player in decentralized perpetual futures, capturing roughly 80% of the market in just over a year.

DefiLlama data also shows Hyperliquid ranks second among decentralized exchanges by monthly trading volume, with over $17 billion, behind only Uniswap. The exchange also recently became the most productive company in the world by revenue per employee, generating over $1 billion in annualized revenue with just an 11-person staff.

Meanwhile, HYPE itself has seen strong activity throughout the year. The token hit an all-time high price peak of $49.8 earlier in July, and has rallied roughly 300% from this year’s low. Market cap currently stands at $15.05 billion, while trading volume in the past 24 hours is up 112% to $295 million. 

Overall, these developments place HYPE on a positive trajectory. However, inherent market volatility and broader macroeconomic conditions could influence the token’s performance in the coming years, and it remains to be seen how Arthur Hayes’ projections will play out.