Arthur Hayes set a $150 price target on Hyperliquid (HYPE) and said the token will pass Solana (SOL) before the current bull run ends.
Key Points:
- Hayes, the BitMEX co-founder, reaffirmed his $150 call on HYPE and waved off talk of a bear market.
- He expects the token to overtake Solana, which still carries a far larger market value.
- Bitwise's Matt Hougan echoed the view, calling HYPE a generational asset.
Hayes Backs HYPE Target
Hayes, who co-founded the derivatives exchange BitMEX, posted the call on X and brushed aside warnings that the market had turned bearish. When one user declared a bear market, he replied that his speculative altcoin holdings disagreed.
He read the gap between broad weakness and a handful of outperforming bets as proof that the rally still holds for the right positions.
Hayes has bought the token before, accumulating more than 26,000 HYPE, and his latest posts suggest that stake has grown into a high-conviction wager. He leaned on the Clarity Act and resistance from traditional finance to frame the trade.
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Buybacks Anchor The Bid
Hyperliquid's buyback program has deployed more than $1.16 billion to repurchase HYPE in open markets, putting a steady bid beneath the price.
The protocol's revenue has climbed sharply too. Hyperliquid Strategies, the Nasdaq-listed treasury vehicle, reported a $152.5 million quarterly profit, almost all of it tied to gains on its token reserves.
Why The Call Matters
Matt Hougan, chief investment officer at Bitwise, has reached a similar view, describing HYPE as a generational asset that belongs measured against a $600 trillion global market rather than crypto's $3 trillion pool.
He called the firm's BHYP fund the strongest single-asset crypto launch since Bitcoin (BTC), and it has pulled in close to $60 million since mid-May. Hougan tags HYPE a "Gen 2 token" because nearly all fees flow back into buybacks.
Solana still towers over HYPE by market value and remains the dominant venue for decentralized finance and speculative trading. Whether HYPE closes that gap rests on how far the speculative cycle stretches and whether the revenue trajectory keeps justifying the premium that Hayes and other backers now underwrite.
The token has run hard through 2026, briefly passing Solana in fully diluted value last week and trading near record highs above $60. That climb is what gives the $150 call its footing, and it is also what could undo it the moment perpetual futures activity cools.
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