As the native token of the decentralized derivatives exchange (DEX) Hyperliquid, HYPE has become one of the few tokens to achieve an increase in the past 24 hours. Previously, cryptocurrency entrepreneur Arthur Hayes stated to the audience at an event in Tokyo that he expects the token to rise 126 times in the next three years.
Hyperliquid (HYPE) has risen nearly 4% in the past 24 hours, trading at $45.64 at the time of writing, having briefly surpassed the $47 mark earlier.
Arthur Hayes, co-founder of BitMEX, made this bold prediction on Monday at the Tokyo WebX 2025 conference. Hayes pointed out that the expansion of stablecoins will drive the exchange's annual fees from the current $1.2 billion annual revenue to $258 billion.
Hyperliquid is a decentralized exchange focused on perpetual futures, a type of derivative contract with no expiration date that allows speculators to trade with leverage without actually holding the crypto assets.
According to the latest data from the Hypertracker analytics platform, Hyperliquid's total open positions reached a historic high of 198,397 on Monday.
At the same time, the value of open contracts (i.e., the value of contracts that have not yet been settled) climbed to over $15 billion, with total wallet assets peaking at $31 billion.
According to DefiLlama, Hyperliquid DEX also set a historical high of $1.56 billion in trading volume over the weekend. Trading fees this month have also reached the historical peak level of $93 million in July.
DefiLlama's data also shows that the current total value locked in this derivatives DEX is $685 million, just slightly below its peak set in February.
Data provider Redstone released a comprehensive report on the exchange last week. The report mentioned, "In less than two years, they started from zero and quickly captured over 75% of the entire decentralized perpetual trading market," which was previously dominated by dYdX.
Hyperliquid currently processes up to $30 billion in trading volume daily, "matching the trading volume of Binance on certain trading pairs," the report further added.
HYPE reached an all-time high of nearly $50 on July 14, and as of the time of writing, it is just 7% away from that peak.
Related: Andrew Tate shorts Kanye West's YZY, losing $700,000 on Hyperliquid
Original: “Arthur Hayes predicts Tokyo stock market will rise 126 times, Hyperliquid price soars”
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