Hyperliquid spikes as Arthur Hayes predicts 126x upside in Tokyo

Cointelegraph

The native token powering the decentralized derivatives exchange Hyperliquid was one of the few tokens to post a gain over the 24 hours, as crypto entrepreneur Arthur Hayes told an audience in Tokyo he expects it to 126x over the next three years.

Hyperliquid (HYPE) has gained almost 4% over the last 24 hours and is now trading at $45.64 — though it briefly reached over $47 earlier in the day.

BitMEX co-founder Arthur Hayes made the forecast at the WebX 2025 conference in Tokyo on Monday local time.

Hayes said that stablecoin expansion would push the DEX’s annualized fees to $258 billion while its current annualized revenue is just $1.2 billion.

Hyperliquid is a decentralized exchange for perpetual futures, derivative contracts without an expiry date, allowing speculators to take leveraged positions on crypto assets without owning them.

Open perps, DEX volume at an all-time high

Hyperliquid total open positions hit an all-time high of 198,397 on Monday, according to the Hypertracker analytics platform.

Meanwhile, open interest, or the value of contracts yet to be settled, climbed above $15 billion, and total wallet equity peaked at $31 billion.

Hyperliquid DEX volume also hit an all-time high of $1.56 billion over the weekend, according to DefiLlama. Transaction fees have also reached July’s all-time high of $93 million so far this month.

DefiLlama also shows that the total value locked for the derivatives DEX is currently $685 million, just shy of its February peak.

Hyperliquid eating competition

Data provider Redstone published a comprehensive report on the exchange last week in which they said, “In a span of less than two years, they went from zero to consistently capturing over 75% of the entire decentralized perpetual exchange market,” previously held by dYdX.

Hyperliquid now processes up to $30 billion daily, “getting close to matching Binance’s volume on some pairs,” it added.

HYPE hit an all-time high of just below $50 on July 14 and is currently just 7% away from that peak.

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Risk Disclosure

The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.

Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.

Recent Searches

Top Searches

Markets

Analysis

User

24/7

Economic Calendar

Education

Data

Hyperliquid spikes as Arthur Hayes predicts 126x upside in Tokyo

Risk Disclosure