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Arthur Hayes Long-Form HYPE Call: Target Price Reaches $150, the Highest Quality Project in the Entire Market
On March 9, Maelstrom Chief Investment Officer Arthur Hayes published a detailed article outlining the bullish logic for Hyperliquid token HYPE.
Hayes stated that despite the current overall pressure in the crypto market, Hyperliquid, as a leading perpetual DEX, is expected to restore its 30-day annualized revenue to the peak of $1.4 billion within six months, thanks to HIP-3 permissionless launch mechanism, genuine trading depth, and high buyback levels.
Hayes emphasized that HYPE's current price-to-earnings ratio is only about 12, significantly lower than traditional and crypto trading platforms like Coinbase (26) and CME (40). If the P/E ratio recovers to 25, combined with revenue growth, the target price in August could reach $150, offering a 5x upside from the current $30.
He also pointed out that the team’s monthly token allocation has decreased from nearly 10 million tokens in the early days to about 140,000 recently, significantly reducing selling pressure. Maelstrom has already built a position around $20 and will continue to increase holdings.