Arthur Hayes Predicts Hyperliquid’s HYPE Token Could Hit $5,000

Arthur Hayes, co-founder of BitMEX, has delivered one of his boldest forecasts yet, suggesting Hyperliquid’s HYPE token could soar to $5,000. Speaking on a podcast with Kyle Chasse, Hayes tied his outlook to a massive expansion in the stablecoin market, which he believes could push aggregate supply beyond $10 trillion. Such growth, he argues, would ignite a wave of speculative trading and drive demand for high-leverage platforms like Hyperliquid.

Hayes emphasized that retail investors seeking outsized returns will flock to risk-on environments. In his words, many see leverage trading as a way to escape financial pressures—whether paying off debts or funding lifestyle goals. This mindset, he explained, fuels adoption of exchanges that act as “casinos” for speculative traders, with Hyperliquid positioned to benefit most.

Hyperliquid has already distinguished itself by running on its own blockchain and focusing on perpetual futures, a product without expiration dates. This approach has propelled the platform to capture over 60% of the perpetual futures market, surpassing Robinhood’s volumes and eroding Binance’s lead.

Financially, the exchange has also impressed. Research firm ASXN reported that Hyperliquid generated $1.2 billion in net income in 2024, narrowly overtaking NASDAQ’s $1.13 billion—despite employing a team more than 800 times smaller. What makes this performance even more compelling for investors is Hyperliquid’s revenue model: 98% of its earnings are directed toward HYPE buybacks, creating constant upward pressure on the token’s value.

The results are already evident, with HYPE recently hitting an all-time high above $57. Hayes previously suggested a 126x gain was possible within three years, and his latest prediction strengthens the narrative that Hyperliquid could redefine decentralized trading while offering explosive upside for its token holders.