The local token of the decentralized derivatives exchange Hyperliquid has seen an increase in 24 hours, with Arthur Hayes stating to an audience in Tokyo that he expects it to achieve a 126-fold growth in the next three years.
Hyperliquid (HYPE) has risen nearly 4% in the past 24 hours, with a current trading price of $45.64, having briefly exceeded $47 earlier.
BitMEX co-founder Arthur Hayes made this prediction at the WebX 2025 conference held in Tokyo.
Hayes stated that the expansion of stablecoins will drive DEX's annualized fees to $258 billion, while the current annualized income is only $1.2 billion.
Hyperliquid is a decentralized exchange that offers perpetual contracts with no expiration date, allowing speculators to trade with leverage without holding crypto assets.
Open perpetual contracts and DEX trading volume hit an all-time high.
According to data from the Hypertracker analytics platform, Hyperliquid's total open positions reached a historical high of 198,397 on Monday.
Meanwhile, the total value of uncollateralized contracts exceeds $15 billion, with a peak total wallet equity of $31 billion.
According to DefiLlama data, Hyperliquid DEX's trading volume reached a historical high of $1.56 billion over the weekend, with this month's trading fees also reaching a historical high of $93 million in July.
DefiLlama also shows that the total locked value of derivatives DEX is $685 million, close to its peak in February.
Hyperliquid's market share continues to grow.
Data provider Redstone released a comprehensive report last week, stating that 'in less than two years, they have grown from zero to capturing over 75% of the entire decentralized perpetual trading market,' which was previously dominated by dYdX.
Hyperliquid now processes daily trading volumes of up to $30 billion, with some trading pairs even approaching Binance's trading volume.
HYPE reached a historical high of nearly $50 on July 14, currently just 7% away from this peak.
