Arthur Hayes, the co-founder and former CEO of BitMEX, has made an ambitious prediction for the HYPE token of the Hyperliquid platform. In his social media announcement, Hayes stated that his goal, under current market conditions, is for the HYPE token to surpass Solana’s ( SOL ) performance and position itself among the top ten cryptocurrencies by total market value.
Solana’s Struggle to Break Through
Solana’s price is struggling to surpass the critical $180 level. Analysts suggest that the inability to break this level for two consecutive weeks may risk Solana $175 falling to the $140-150 range in the coming days. If this happens, it is anticipated that SOL may experience short-term negative momentum. According to Hayes, in such a scenario, HYPE is expected to gain more prominence.
Hayes emphasizes in his latest forecasts that Hyperliquid’s HYPE token can demonstrate significant growth in the upcoming period.
HYPE Token Outlook
In his statement, Arthur Hayes expressed that HYPE holds significant potential in the upcoming bullish period:
“My main goal for this bull season is for the HYPE token to surpass SOL and enter the top ten cryptocurrencies by market value.”
According to Hayes’ predictions, the projected $100 level for the HYPE token is seen as an important reference point for market participants. Reaching this level would significantly increase the market value of HYPE.
Predictions like these, which occasionally surface in the crypto market, can direct investor interest towards specific crypto assets. Despite the expectations, it should be noted that price movements cannot be accurately predicted based on past performance, and the future remains uncertain. Simultaneously, Hayes has been known to make bold predictions for various altcoins and later sell millions without reaching his target, which can be perceived as boasting motivated by his holdings in those altcoins.
While it is predicted that investor sentiment could change if the Solana token fails to breach the $180 level, evaluations related to the HYPE token are viewed as an indicator of the overall excitement in the market. Considering the dynamic nature of the crypto market, it is advised to watch both new and existing projects carefully. Potential price fluctuations can significantly affect interest in certain crypto assets, and investors should diversify their decisions by staying abreast of expert analyses.
