Crypto Founder Predicts This Altcoin Sweetheart Will Overtake Solana, But How Far Will It Go?
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 worth 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 post, 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, at the same time as one other X person acknowledged that the crypto market was in a bear market. It is price noting that the BitMEX co-founder has not too long ago revealed publicity to HYPE, ZEC, and NEAR, that are among the many altcoins which have recorded important beneficial properties over the previous few weeks.
Meanwhile, Hayes’s prediction that Hyperliquid will overtake Solana got here whereas the altcoin was nonetheless buying and selling beneath the psychological $70 worth degree and at a $15 billion market cap. Since then, HYPE has rallied to a brand new all-time high (ATH) above $73, boasting a market cap of $18 billion and overtaking Dogecoin to change into 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 worth may rise above $100, a improvement the crypto founder is assured will happen. Hayes recently 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 realize extra traction, which is able to, in flip, increase charges earned on the platform and the token buybacks. It is 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 post, Hayes challenged Solana advocate Kyle Samani to a “charitable wager.” He advised him that he’ll put $100,000 on the road to a charity of Samani’s alternative that HYPE outperforms every other present high crypto by market cap from now till year-end. The crypto founder then requested Samani to choose a coin that he thinks would outperform HYPE.
Hyperliquid is at present the best-performing crypto among the many high 10 cryptos by market cap with a year-to-date (YTD) achieve of 188%. Justin Sun’s Tron is the one different crypto within the rankings that’s inexperienced this yr, with a YTD achieve of 23%.
At the time of writing, the Hyperliquid worth is buying and selling at round $73, up over 5% within the final 24 hours, in accordance with data from CoinMarketCap.
