Wall Street Is Coming for Hyperliquid's Perps Crown, Arthur Hayes Says
Key takeaways
- “At the end of the day, this is a cash story,” he said. “There will be more competition in real-world asset perps, whether that’s from centralized exchanges like Binance [or] TradFi exchanges.”
- A day after his interview, Hayes informed followers on X that he had “just dumped” his entire stash of HYPE tokens, alongside another digital asset.
- “Time to take profit,” he added, less than two months after penning and sharing an essay on why Hyperliquid’s native token “is going to $150 by August 2026.”
Wall Street Is Coming for Hyperliquid's Perps Crown, Arthur Hayes Says André Beganski Sun, June 7, 2026 at 10:48 PM GMT+7 3 min read HYPE32196-USD Hyperliquid has surfaced as crypto’s derivatives darling since it debuted in 2023, but the honeymoon may not last forever, according to Bit MEX co-founder Arthur Hayes.
Although the decentralized upstart’s surging popularity has helped spur its native token to recent all-time highs, the outspoken Hayes told Decrypt in an interview that looming competition from Wall Street and established crypto players threatens to erode one of the digital asset’s core drivers.
Hyperliquid relies on a steady stream of trading fees to buy its token off the open market and permanently remove it from circulation—a mechanism designed to bolster scarcity, that Hayes warned, leaves the protocol uniquely exposed to any sudden loss in market share.