Arthur Hayes, co-founder of BitMEX, believes the token of decentralized derivatives platform Hyperliquid could surge to $150 by August if current growth trends continue. Hayes argues that increasing rotation of derivatives trading volume from centralized exchanges to decentralized platforms is strengthening demand for the HYPE token.
According to his analysis, the platform has already captured around 6% of derivatives volume previously dominated by centralized exchanges. If Hyperliquid secures an additional 3.96% share, its revenue run rate could rise from $843 million in March to about $1.40 billion by August. The platform also allocates roughly 97% of its revenue to purchasing HYPE tokens from the open market, a structure that may support price growth as trading activity expands.
Macro-Linked Perpetual Markets Drive Platform Activity
Trading activity on Hyperliquid has increasingly focused on macro-linked perpetual markets. A crude oil pair, CL-USDC, recently recorded about $1.29 billion in daily volume, surpassing the ETH-USDC pair.
The platform’s HIP-3 framework allows users to launch perpetual markets tied to assets such as oil, gold, silver and major U.S. stock indexes, contributing nearly 10% of platform revenue.
Technical Pattern Points to Possible Breakout
From a technical perspective, HYPE’s price chart shows a potential cup-and-handle formation. A breakout above the $35.50 resistance level could push the token toward $50 in the near term before any larger rally scenario develops.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.