Headline: Arthur Hayes Says Real Trading, Strong Revenue Could Push HYPE to $150
Former BitMEX CEO Arthur Hayes told CoinDesk’s Jennifer Sanasie on Markets Outlook that Hyperliquid’s native token HYPE could reach $150 if the platform sustains strong revenue and genuine trading activity. Hayes argued Hyperliquid isn’t just another exchange chasing volume with incentives — it’s attracting real users and real flows.
Why Hayes is bullish
- Real usage over artificial volume: Hayes said Hyperliquid has “separated itself from competing perpetual futures exchanges with real usage rather than incentive-driven volume,” signaling more sustainable growth.
- Unique market access: Traders are reportedly using Hyperliquid to access markets they can’t easily reach on traditional platforms, which is driving activity.
- Cleaner liquidity signal: According to Hayes, Hyperliquid’s liquidity and trading metrics reflect more authentic market demand compared with many rival decentralized exchanges.
Risks and warning signs
Hayes warned that an uptick in hype or intensified competition could mark a turning point and present an exit signal for investors — implying the upside depends on continued real adoption, not just narrative momentum.
Wider themes Hayes flagged
- Privacy projects: Beyond HYPE, Hayes highlighted privacy-focused crypto projects as an emerging narrative to watch.
- Bitcoin outlook: He reiterated an aggressive forecast for Bitcoin, maintaining a bullish stance on the market leader.
Bottom line: Hayes believes Hyperliquid’s combination of real trading, liquidity metrics, and unique market access could justify a $150 HYPE target — but he cautions that rising hype or stronger rivals could undermine that thesis.
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