Here is Why Arthur Hayes Predicts 126x Surge for Hyperliquid by 2028

Speaking at the WebX 2025 conference in Tokyo, BitMEX co-founder Arthur Hayes delivered one of his most bullish forecasts yet - this time for decentralized exchange Hyperliquid (HYPE).

Stablecoins as the Growth Engine

Hayes argued that Hyperliquid’s future is closely tied to the expansion of stablecoins. He predicted that by 2028, the global stablecoin supply could reach $10 trillion, with Hyperliquid capturing 26.4% of that market.

This level of adoption, he explained, would transform the exchange’s economics. Hyperliquid’s current daily trading volume of $11.9 billion could surge to $2.63 trillion, generating $25.8 billion in annual fees at a standard 0.03% commission rate. That, Hayes suggested, would push HYPE’s value up by as much as 126x over the next three years.

Why Hayes is Confident

According to Hayes, the structural growth of stablecoins offers a unique opportunity for decentralized exchanges to scale far faster than their centralized counterparts. He described Hyperliquid’s strategy of integrating stablecoin liquidity and optimizing cross-chain settlement as a “primary driver” of future growth.

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Putting Skin in the Game

Backing his outlook, Hayes disclosed he had recently purchased 58,631 HYPE tokens, signaling confidence in the project’s trajectory.

The Bigger Picture

If his projections hold, Hyperliquid could become one of the most profitable platforms in decentralized finance, reshaping the landscape for liquidity, trading, and stablecoin adoption. While some analysts see Hayes’ numbers as ambitious, the scale of his forecast reflects growing confidence in DeFi’s ability to rival traditional markets.