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 value goal for the HYPE token, predicting it will likely be reached by the beginning of the second half of the yr.
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, whilst one other X person acknowledged that the crypto market was in a bear market. It’s price noting that the BitMEX co-founder has just lately revealed publicity to HYPE, ZEC, and NEAR, that are among the many altcoins which have recorded vital beneficial properties 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 value 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 grow to be the ninth largest crypto by market cap.
Hyperliquid probably overtaking Solana means the altcoin’s market cap may nonetheless rise above $48 billion, making it the Seventh-largest crypto by market cap. It additionally means HYPE’s value may rise above $100, a growth the crypto founder is assured will happen. Hayes just lately reiterated that the altcoin will nonetheless rally to $150.
Hayes has prior to now predicted that HYPE will rally to $150 by August this yr. He predicted that this may occur because the Hyperliquid DEX continues to achieve extra traction, which is able to, in flip, enhance charges earned on the platform and the token buybacks. It’s price 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 some other present prime 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 prime 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 yr, with a YTD acquire of 23%.
On the time of writing, the Hyperliquid value is buying and selling at round $73, up over 5% within the final 24 hours, in response to knowledge from CoinMarketCap.
Featured picture from Medium, chart from Tradingview.com
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