Hyperliquid’s HYPE token jumped nearly 4% in a day, hitting $45.64. After BitMEX co-founder Arthur Hayes predicted it could soar 126 times in value over the next three years.
Speaking at the WebX 2025 conference in Tokyo on Monday. Hayes said a growing stablecoin market could push Hyperliquid’s yearly fees from $1.2 billion to $258 billion. The token, which powers the decentralized exchange for perpetual futures, was one of the few coins to gain while others dipped.
Hyperliquid, a platform for trading derivative contracts without expiration dates, saw its open positions hit a record 198,397 on Monday, according to Hypertracker.
The value of unsettled contracts, called open interest, climbed past $15 billion, and total wallet equity reached $31 billion. Over the weekend, trading volume on the exchange hit an all-time high of $1.56 billion, per DefiLlama.
With monthly transaction fees nearing July’s peak of $93 million. The total value locked in the exchange is $685 million, close to its February high.
A Redstone report noted that Hyperliquid has grabbed over 75% of the decentralized perpetuals market in less than two years, overtaking dYdX. It now handles up to $30 billion daily, nearly matching Binance’s volume on some trading pairs.
HYPE’s all-time high was just under $50 on July 14, and it’s now only 7% below that. Hayes’ bold prediction and the platform’s strong numbers are driving interest in HYPE as a top player in decentralized finance.
