This Altcoin Is A 12,500% Crypto Bet Until 2028, Says Arthur Hayes
Arthur Hayes presented a valuation case for Hyperliquid's HYPE token at Tokyo’s WebX 2025, projecting a potential 126x increase in value. The model predicts stablecoin expansion could boost annualized fees to $258 billion, with a terminal value of HYPE revenue at $5.161 trillion compared to a current valuation of $41.05 billion. Hyperliquid has achieved significant milestones, including record open positions and high trading volumes. Hayes anticipates that by 2028, stablecoin float could reach $10 trillion, with Hyperliquid capturing 26.4% of average daily volume. Hayes has backed this thesis with substantial investments in HYPE and other tokens. The decentralized exchange operates without expiry on leveraged trades and has shown growth in open interest and fee generation. HYPE was trading at $45.84 at press time.
