Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom Fund, has purchased an additional 26,022 HYPE tokens, valued at approximately $1.1 million. This latest acquisition brings his total holdings to 247,334 HYPE tokens, exceeding $10 million, with unrealized gains of over $2.2 million.
HYPE, the native asset of the Hyperliquid layer 1 blockchain, has demonstrated impressive year-to-date performance, surging approximately 61%. This significantly outperforms Bitcoin and Ethereum, which have seen declines of 18% and 25% respectively. Despite its strong gains, HYPE remains about 31% below its all-time high.
Hayes has been a consistent accumulator of HYPE, previously investing $1.9 million in February. He publicly backs Hyperliquid, predicting the token could reach $150 by August. This projection is driven by Maelstrom's financial model, citing the project's dominance in the on-chain perpetuals futures market and its revenue model, where trading fees are funneled into token buybacks. Hayes notes that Hyperliquid is unique in its distribution of funds back to token holders.
Hyperliquid currently leads the 24-hour perpetuals trading volume with $2.6 billion, surpassing competitors like Aster and edgeX.