TLDR:

Arthur Hayes projects ENA price could jump 51x, ETHFI 34x, and HYPE 126x by 2028, according to his Medium article.
Hayes said his forecasts come from global liquidity trends and crypto cycles, not guaranteed outcomes.
Codex was described by Hayes as the first true crypto-native bank, backed by a transparent stablecoin model.
Hayes admitted past predictions have only been about 25% accurate, but they continue to capture wide investor attention.

Arthur Hayes is once again making bold price calls in the crypto space. The former BitMEX CEO laid out his latest projections in a blog post titled Buffalo Bill. 

He argued that a handful of new projects could reshape investor portfolios if his numbers play out. Hayes linked his optimism to broader cycles in liquidity, technology adoption, and crypto’s evolving role in finance. His claims drew attention after Wu Blockchain flagged the piece in a recent post on X.

In his article, Hayes outlined how three specific tokens could perform in the years ahead. He predicted that ENA could rise 51x by 2028. ETHFI, a liquid staking project, was placed at 34x growth potential. 

HYPE, a token tied to culture-driven crypto, carried his highest estimate of 126x. Hayes noted that only about a quarter of his past predictions have landed accurately.

In his latest article, Arthur Hayes predicts that ENA, ETHFI, and HYPE will increase 51x, 34x, and 126x, respectively, by 2028. He also stated that Codex is the stablecoin project he’s most excited about and will truly become the first true crypto bank. Arthur Hayes has…

— Wu Blockchain (@WuBlockchain) August 28, 2025

Arthur Hayes Crypto Price Predictions

Hayes said these forecasts come from a framework tied to global financial cycles. He pointed to rising dollar liquidity and crypto’s correlation with risk assets as factors. The numbers, while extreme, mirror how past cycles produced multi-hundredfold returns for early backers of leading projects.

Investors reacted with mixed views. Some recalled that Hayes has previously admitted his calls are more thought experiments than certainties. Yet, the allure of tokens multiplying dozens of times over remains hard to ignore. His framing suggests that price growth at such levels requires both investor conviction and global market alignment.

The focus on ENA, ETHFI, and HYPE fits Hayes’ view that niche narratives often drive market manias. ENA and ETHFI target crypto infrastructure, while HYPE channels culture and trends. His outlook blends fundamentals with the belief that speculation itself shapes future price action.

Codex Named as Hayes’ Crypto Bank Pick

Beyond token price calls, Hayes singled out Codex as a project worth tracking. He described it as a stablecoin venture designed to operate more like a bank than an issuer. According to him, Codex could become the first true crypto-native banking system.

Codex’s model centers on issuing a stablecoin backed by transparent reserves, while offering services familiar to traditional finance users. Hayes wrote that this project aligns with his vision of crypto bridging gaps between traditional banking and decentralized systems. He also emphasized that trust and reserve quality will make or break such ventures.

For investors, the mention of Codex stood out because Hayes rarely highlights stablecoin projects in this way. His focus usually falls on tokens tied to trading, infrastructure, or liquidity. In placing Codex in the spotlight, he reinforced how central stablecoins may become in the next growth cycle

The post ENA, ETHFI, HYPE Price Predictions: Arthur Hayes Forecasts 51x, 34x, 126x Growth by 2028 appeared first on Blockonomi.

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Filed under: Bitcoin - @ August 28, 2025 6:04 am