Wall Street · Decrypt
Wall Street Is Coming for Hyperliquid's Perps Crown, Arthur Hayes Confirms
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Hyperliquid has surfaced as crypto’s derivatives darling since it debuted in 2023, but the honeymoon may not last forever, according to BitMEX co-founder Arthur Hayes.
Key facts
- HYPE changed hands around $59 on Sunday, a 14% decrease over the past seven days, according to CoinGecko
- So far, the platform has bought back 26.6 million HYPE, while permanently removing 579,603 HYPE from circulation, according to a Dune dashboard
- Time to take profit,” he added, less than two months after penning and sharing an essay on why Hyperliquid’s native token “is going to $150 by August 2026
- Under Hayes, BitMEX debuted the world’s first perpetual futures contract in 2016, a concept established long ago in the early '90s by Nobel Prize-winning economist Robert Shiller
Summary
Arthur Hayes warned that Hyperliquid's use of trading fees to burn tokens exposes the protocol to market share losses. Less than two months after predicting HYPE would hit $150, BitMEX co-founder Arthur Hayes liquidated his entire position. Despite Hyperliquid securing $3 billion in real-world asset open interest, Hayes anticipates fierce competition from Wall Street. Although the decentralized upstart’s surging popularity has helped spur its native token to recent all-time highs, the outspoken Hayes told Decrypt that looming competition from Wall Street and established crypto players threatens to erode one of the digital asset’s core drivers.