HYPE, the native asset of Hyperliquid, could rise to $150 if the platform maintains its dominance in decentralized perpetual futures and unlocks new revenue streams through permissionless markets, according to Arthur Hayes, chief investment officer at Maelstrom and co-founder of BitMEX.
Maelstrom’s updated assessment suggests that HYPE’s earlier valuation pressures from competing low- and zero-fee DEXs are less of a concern.
Hyperliquid demonstrates the highest-quality trading activity among the top decentralized perpetual platforms, with a low daily volume to open interest ratio that reflects real capital-backed trading rather than incentivized or wash volumes.
Coupled with industry-leading execution, where slippage is low even on large trades, Hyperliquid is positioned to retain and attract serious traders despite competitor token incentive programs.
If the platform continues to expand its offerings and attract real trading volume, Hayes believes the token could see a rapid repricing over the next several months.
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