BitMEX co-founder Arthur Hayes has predicted that the altcoin Hyperliquid will overtake Solana earlier than this market cycle ends. The crypto founder has additionally reiterated his $150 worth goal for the HYPE token, predicting it will likely be reached by the beginning of the second half of the 12 months.
Arthur Hayes Predicts Hyperliquid Will Overtake Solana In Market Cap
In an X put up, Hayes opined that Hyperliquid ought to, at a minimal, overtake Solana earlier than this “bull run” is over. The crypto founder additionally remarked that his portfolio was in a bull market, at the same time as one other X person acknowledged that the crypto market was in a bear market. It’s value noting that the BitMEX co-founder has not too long ago revealed publicity to HYPE, ZEC, and NEAR, that are among the many altcoins which have recorded important good points over the previous few weeks.
In the meantime, Hayes’s prediction that Hyperliquid will overtake Solana got here whereas the altcoin was nonetheless buying and selling under the psychological $70 worth degree and at a $15 billion market cap. Since then, HYPE has rallied to a brand new all-time excessive (ATH) above $73, boasting a market cap of $18 billion and overtaking Dogecoin to turn out to be the ninth largest crypto by market cap.
Hyperliquid probably overtaking Solana means the altcoin’s market cap might nonetheless rise above $48 billion, making it the Seventh-largest crypto by market cap. It additionally means HYPE’s worth might rise above $100, a improvement the crypto founder is assured will happen. Hayes not too long ago reiterated that the altcoin will nonetheless rally to $150.
Hayes has prior to now predicted that HYPE will rally to $150 by August this 12 months. He predicted that this is able to occur because the Hyperliquid DEX continues to realize extra traction, which can, in flip, enhance charges earned on the platform and the token buybacks. It’s value noting that the DEX at present makes use of as much as 99% of charges earned to purchase and burn HYPE tokens.
Arthur Hayes Challenges Kyle Samani
In one other X put up, Hayes challenged Solana advocate Kyle Samani to a “charitable wager.” He instructed him that he’ll put $100,000 on the road to a charity of Samani’s selection that HYPE outperforms another present high crypto by market cap from now till year-end. The crypto founder then requested Samani to select a coin that he thinks would outperform HYPE.
Hyperliquid is at present the best-performing crypto among the many high 10 cryptos by market cap with a year-to-date (YTD) acquire of 188%. Justin Solar’s Tron is the one different crypto within the rankings that’s inexperienced this 12 months, with a YTD acquire of 23%.
On the time of writing, the Hyperliquid worth is buying and selling at round $73, up over 5% within the final 24 hours, in line with information from CoinMarketCap.
Featured picture from Medium, chart from Tradingview.com
Editorial Course of for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent assessment by our group of high expertise consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
