Hyperliquid (HYPE) Price: Arthur Hayes Says HYPE Should Overtake Solana — Here’s the Math

TLDR

• Arthur Hayes predicted HYPE will overtake Solana’s market cap before the current bull cycle ends, implying a price above $215
• HYPE hit a new all-time high of $70.36 before pulling back slightly to the $68–$69 range
• A whale bought 45,887 HYPE for $3.12 million at an average of $68.09, signaling large-holder confidence
• Hyperliquid has bought back over $1.16 billion worth of HYPE from the open market
• Grayscale updated its S-1 filing for a HYPE staking ETF, and the Bitwise BHYP ETF has pulled in nearly $60 million since mid-May

Hyperliquid (HYPE) has hit a new all-time high of $70.36, driven by steady buying pressure, whale accumulation, and growing attention from well-known investors.

The token had been consolidating near $54 for a period before buyers stepped in with enough force to push through multiple resistance levels. Volume increased as the price climbed, eventually resulting in the record high.

After reaching $70.36, HYPE pulled back slightly to the $68–$69 range as some traders took profits. Buyers absorbed that selling pressure quickly, keeping the price near its peak.

On-chain data shows a whale depositing $3.12 million in USDC and using it to buy 45,887 HYPE at an average price of $68.09. The buyer did not wait for a dip, accumulating during active price discovery.

BitMEX co-founder Arthur Hayes posted on X, sharing a list of top crypto assets by market cap. He wrote that HYPE should “at a minimum overtake SOL before this bull run is over.”

Hayes Raises the Bar Beyond $150

At the time of his post, Solana’s market cap sat at around $47.73 billion compared to Hyperliquid’s $15.04 billion. For HYPE to match Solana at current prices, it would need to rise roughly 3.17x, putting the price around $215.

Hayes also used the post to push back against traders calling the current market a bear run. He said his altcoin portfolio didn’t agree, and he pointed to strong performance in select risk assets as evidence the bull cycle is still running.

Hayes currently holds over 26,000 HYPE tokens in his portfolio and has doubled down on Hyperliquid as one of his highest-conviction positions.

Open Interest in HYPE climbed to $3.3 billion, reflecting growing capital behind the trade.

ETF Filings and Buybacks Add Fuel

Hyperliquid’s protocol has bought back more than $1.16 billion worth of HYPE from the open market, creating consistent demand for the token.

The protocol also posted quarterly earnings of around $152.5 million, according to Hyperliquid Strategies.

Grayscale updated its S-1 filing for a Hyperliquid staking ETF. Separately, the Bitwise BHYP ETF has taken in nearly $60 million since launching in mid-May.

Bitwise CIO Matt Hougan called HYPE a “generational asset” and suggested investors frame the opportunity against the $600 trillion global financial market.

After Hayes’ post, HYPE traded at $68.89, up 2.52% on the day as of May 31.

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