Arthur Hayes, co-founder of BitMEX, has predicted that Hyperliquid's native token, HYPE, could see a 126-fold increase in value over the next three years. Speaking at the WebX 2025 conference in Tokyo, Hayes attributed this potential surge to the expanding use of stablecoins, which he believes will drive Hyperliquid's annualized fee revenue from $1.2 billion to $258 billion. Hayes also projected that the ongoing crypto bull market will persist until 2028, with DeFi platforms like Ethena and Hyperliquid poised to benefit from significant stablecoin liquidity inflows.