Hyperliquid spikes as Arthur Hayes predicts 126x upside in Tokyo

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In a move that can only be described as delightfully audacious, the native token of the decentralized derivatives exchange Hyperliquid has managed to pull off a rare feat: posting a gain in a market that seems to have made a career out of disappointment. In fact, it was one of the few tokens to actually rise over the past 24 hours. Arthur Hayes, the crypto wizard himself, graced an audience in Tokyo with his predictions of a *whopping* 126x upside for Hyperliquid over the next three years. Yes, you read that correctly. 126x! Just let that sink in. 💰

As of the latest numbers, Hyperliquid (HYPE) has made an almost respectable gain of 4% over the last 24 hours, now hovering around $45.64. Though it briefly flirted with the $47 mark earlier in the day, clearly having its moment of fame before reality set in. 📉

Hayes, the BitMEX co-founder, dropped this bombshell of a forecast at the WebX 2025 conference in Tokyo on Monday. Apparently, stablecoin expansion will send the DEX’s annualized fees soaring to $258 billion, compared to its current annualized revenue of just $1.2 billion. Quite the leap, wouldn’t you say? A bit like predicting that your cat will grow wings and join the circus, but who are we to doubt? 🐱🎪

For those not familiar with Hyperliquid, it’s a decentralized exchange for perpetual futures. These are derivative contracts that, as the name suggests, have no expiry date. Perfect for those who love playing with leveraged positions on crypto assets… without actually owning them. It’s like playing Monopoly without buying properties-just collecting the rent, but with more risk and less fun. 🏦

Open perps, DEX volume at an all-time high

Hyperliquid’s total open positions hit an all-time high of 198,397 on Monday, according to Hypertracker. It’s like the crypto version of a stampede, but instead of cattle, we’ve got digital assets charging forward with abandon. 🐄💨

Meanwhile, open interest-the value of contracts yet to be settled-surpassed $15 billion. And if that wasn’t enough, total wallet equity also peaked at a jaw-dropping $31 billion. Just a regular Monday, then. 📈

DEX volume also surged to an eye-watering $1.56 billion over the weekend, setting yet another all-time high, according to DefiLlama. You’ve got to wonder if these platforms have any idea how to be *humble* with all these record-breaking feats. 💸

Transaction fees reached the heady heights of $93 million this month, matching July’s all-time high. So if you’re wondering where all the money’s going, well, now you know. It’s going to *them*. 💳

And speaking of sums, Hyperliquid’s total value locked currently stands at $685 million, just a hair shy of its February peak. I suppose it’s only a matter of time before it shatters that record as well. 🏆

Hyperliquid eating competition

In a report last week, Redstone-those charmingly meticulous data providers-declared that Hyperliquid has gone from zero to a mighty 75% of the entire decentralized perpetual exchange market in less than two years. That’s quite the success story! And who did they displace? None other than dYdX. 😮

In fact, Hyperliquid now processes up to $30 billion daily, which, according to Redstone, is “getting close to matching Binance’s volume on some pairs.” Yes, the same Binance that seems to eat competitors for breakfast and leave nothing but crumbs behind. But no, Hyperliquid’s *on the rise*-so much so that its all-time high of just under $50 on July 14 is practically within arm’s reach once more. 7% away, to be exact. Just a hop, skip, and a jump away. 🏃‍♂️💨

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2025-08-25 09:38