HYPE, the native token of the Hyperliquid perpetual DEX, jumped more than 12,4% in 24 hours after Arthur Hayes, BitMEX co‑founder, predicted the coin could reach $150 by August.
The surge coincides with record trading volumes in tokenized commodities on the platform amid escalating Middle East tensions, which spiked oil prices while traditional markets were closed.
Record Trading Volumes Fuel Price Momentum
Hyperliquid reported over $1.2 billion in trading volume for oil perpetual contracts on Monday, positioning itself as a 24/7 alternative for macro trades.
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The decentralized exchange generated over $530.5 million in trading volume for perpetual contracts in the past 24 hours, according to CoinMarketCap data.
As of Tuesday morning, HYPE is trading around $34.5, with a market capitalization at $8.88 billion, ranking it among the top 12 cryptocurrencies by market cap – a significant rebound after falling from its all‑time high near $59,39 in mid‑September 2025.
Hayes’ Bullish Prediction Sparks Speculation
Arthur Hayes, in his Substack post titled “HYPE Man,” positions Hyperliquid’s HYPE token as a prime investment in the perpetual futures DEX sector, highlighting its status as the top revenue generator among crypto projects excluding stablecoins.
He emphasizes that 97% of fees are directed toward token buybacks, enabling value appreciation even in flat or declining markets.
Hayes forecasts Hyperliquid’s annualized revenue climbing from $843 million to $1.4 billion by August 2026, driven by innovations like permissionless perps on traditional assets and prediction markets. Therefore, he forecasted HYPE could reach $150 by August 2026.
“My August 2026 target price for HYPE is $150, which is roughly 5x higher than its current price of ~$30 at the time of writing this essay,” Hayes wrote.
Traders have reacted quickly, pushing HYPE into the spotlight across crypto markets.
On The Flipside
- Decentralized derivatives platforms like Hyperliquid operate in a regulatory gray area, with rules for on-chain leveraged products still unclear in many jurisdictions. This uncertainty, combined with inherent volatility in perpetual markets, is considered a structural risk for the sector.
Why This Matters
The surge highlights growing investor appetite for DeFi platforms that combine real-world asset exposure with structured tokenomics, suggesting HYPE could remain resilient amid broader market volatility.
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People Also Ask:
HYPE is the native token of Hyperliquid, a decentralized exchange for perpetual futures. It is used for fee discounts, token buybacks, and may support governance in the future.
The surge was driven by Arthur Hayes’ $150 price prediction, record trading volumes on Hyperliquid, and rising oil prices amid geopolitical tensions.
HYPE carries risks from market volatility, decentralized derivatives’ regulatory uncertainty, and potential smart contract vulnerabilities on the Hyperliquid platform.