At the WebX Asia conference, BitMEX co-founder Arthur Hayes shook the crypto community with a bold forecast: Hyperliquid’s HYPE token could soar by 126x, fueled by the explosive growth of the global stablecoin market, which he estimates could hit $10 trillion by 2028.
Bold Projection: HYPE to Benefit from Stablecoin Boom
According to Hayes, Hyperliquid — a fast-rising decentralized exchange (DEX) — is poised to capture massive value from the expanding stablecoin ecosystem. He predicts the platform could secure 26.4% of related trading volume, driving its annual revenue from the current $1.2 billion to $258 billion by 2028.
Applying a 5% discount rate, Hayes values the terminal revenue stream of the HYPE token at $5.161 trillion. With a fully diluted valuation (FDV) of around $41.05 billion, HYPE presents a 126x upside opportunity for early investors — one of the most bullish forecasts ever made for a DeFi protocol token. Notably, this projection far surpasses Hayes’ earlier target of $100 per HYPE set earlier this year.
Hyperliquid Challenges Coinbase and Bybit
Hyperliquid is rapidly emerging as a serious challenger to industry giants. At one point, its 24-hour BTC spot trading volume even surpassed the combined totals of Coinbase and Bybit, according to Ryan Watkins, co-founder of Syncracy Capital.
The platform is strengthening its position in spot trading for BTC, ETH, and SOL, while its decentralized infrastructure has seamlessly handled massive operations, including nine-figure BTC deposits and large-scale ETH withdrawals. Institutional players such as Circle — issuer of the USDC stablecoin — have also begun moving assets onto Hyperliquid.
HYPE Price Surges 300% Since April Lows
Since April, HYPE has skyrocketed by 300%, currently trading around $45 and securing a spot among the top 15 cryptocurrencies by market capitalization. Daily trading volume has also jumped 78% to $278 million, signaling strong bullish sentiment among traders.
With this momentum, many analysts believe that after its current consolidation phase, HYPE could be on track to explode and become one of DeFi’s biggest “unicorns” in the years ahead.
