Hyperliquid Sees Bullish Momentum Ahead of Solana

Arthur Hayes, co-founder of BitMEX, has reaffirmed his bullish stance on Hyperliquid (HYPE), predicting that it will surpass Solana (SOL) in market value before the current bull cycle ends.

In a recent series of posts on X, Hayes argued that the divergence between broad market weakness and outperforming high-risk assets points to a bull market that remains intact for the right positions. He cited the Clarity Act and TradFi resistance as key factors supporting his thesis.

Hayes has previously accumulated over 26,000 HYPE tokens and has since increased his position, viewing it as a high-conviction bet. The protocol's buyback program has deployed over $1.16 billion to repurchase HYPE in the open market, providing a structural bid below the market price.

The Hyperliquid Strategies have reported $152.5 million in quarterly profit, contributing to the token's growth. Bitwise CIO Matt Hougan has also reached a similar conclusion on HYPE, describing it as a generational asset that should be valued against the global market rather than the crypto universe.