TLDR

Former BitMEX CEO Arthur Hayes forecasts HYPE could reach over $5,000 by 2028
Hyperliquid currently controls about 80% of the decentralized perpetual futures market
The token jumped from $43 to $47.4 following Hayes’ Tokyo conference prediction
Trading volume reached $295 million in 24 hours with a 112% increase
Total open positions hit an all-time high of 198,397 on Monday

Arthur Hayes, former BitMEX CEO, has made headlines with his bold prediction for Hyperliquid (HYPE). Speaking at the WebX 2025 conference in Tokyo on August 25, Hayes forecasted that HYPE could rise over 126x in price over the next three years, potentially taking the token from around $40 to more than $5,000 by 2028.

The market reacted quickly to Hayes’ prediction. HYPE jumped roughly 9% from $43 to around $47.4 before settling back to approximately $45.

This marks a major increase from Hayes’ earlier predictions. Earlier this year, he had called for HYPE to reach $100, making his new target of $5,000 far more ambitious.

Hayes based his forecast on expectations for Hyperliquid to capture a large share of the growing stablecoin market. He projects that global stablecoin supply will reach $10 trillion by 2028.

According to Hayes, Hyperliquid could take roughly 26.4% of associated trading volume. This would push annualized revenues from $1.2 billion today to $258 billion.

The platform has shown strong growth metrics to support these projections. Data shows that Hyperliquid has captured roughly 80% of the decentralized perpetual futures market in just over a year.

Hyperliquid Price on CoinGecko

Platform Growth and Performance

Hyperliquid’s growth has been rapid and impressive. Total open positions hit an all-time high of 198,397 on Monday, according to the Hypertracker analytics platform.

Open interest climbed above $15 billion during the same period. Total wallet equity peaked at $31 billion according to the tracking data.

DEX volume reached an all-time high of $1.56 billion over the weekend, based on data from DefiLlama.

Transaction fees have matched July’s all-time high of $93 million so far this month. The fee revenue shows increased platform usage.

DefiLlama data ranks Hyperliquid second among decentralized exchanges by monthly trading volume. The platform processed over $17 billion, behind only Uniswap.

The exchange has also become one of the most productive companies in the world by revenue per employee. It generates over $1 billion in annualized revenue with just an 11-person staff.

HYPE has posted strong performance throughout 2025. The token hit an all-time high price of $49.8 earlier in July.

The token has rallied roughly 300% from this year’s low point. Current market cap stands at $15.05 billion.

Market Position and Tokenomics

Trading volume in the past 24 hours increased 112% to $295 million. This shows increased interest following Hayes’ comments.

The token briefly traded above $47 during Monday’s rally. It has since pulled back but remains in positive territory for the day.

Current price sits at approximately $45, representing a 2.1% daily gain. This performance outpaced most other cryptocurrencies on Monday.

Hyperliquid operates on a custom-built Layer 1 blockchain, optimized for high-throughput trading with fast finality. Unlike traditional DEXs, Hyperliquid runs a fully on-chain order book, ensuring transparency and eliminating the need for centralized intermediaries.

The platform’s zero-gas fee model for perpetual futures trading has attracted traders. By subsidizing transaction costs through a deflationary token model, Hyperliquid has incentivized traders to shift order flow from centralized exchanges to its decentralized infrastructure.

The HYPE tokenomics include a burn mechanism where 97% of trading fees are burned, reducing the circulating supply by 4% annually. With $1.3 billion in HYPE repurchases already executed, the token’s scarcity is increasing.

Data provider Redstone published a report highlighting Hyperliquid’s rapid market capture. The platform went from zero to over 75% of the decentralized perpetual exchange market in less than two years.

Hyperliquid now processes up to $30 billion daily according to the report. This volume approaches matching Binance’s volume on some trading pairs.

The total value locked for the derivatives DEX currently sits at $685 million, just below its February peak level.

The post Hyperliquid (HYPE) Price: Arthur Hayes Projects 126x Increase to $5,000 by 2028 appeared first on Blockonomi.

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Filed under: Bitcoin - @ August 26, 2025 11:17 am