Arthur Hayes, former CEO of BitMEX, throws his weight behind HYPE

In a move that's turned heads across the crypto market, Arthur Hayes has thrown his weight behind HYPE, the native asset of the decentralized

Arthur Hayes, the former CEO of BitMEX and a crypto influencer, has set a price target of $100 for HYPE, the native asset of the decentralized derivatives exchange Hyperliquid.

The interest in HYPE has been evident, with the token's price surging over 16% in 24 hours to reach $32.50. This spike can be attributed to the attention it's receiving and the increased activity on the Hyperliquid platform.

Highlighting the platform's capabilities, Hayes mentioned a major position by James Wynn, who has longed $1.1 billion in Bitcoin on Hyperliquid with 40x leverage.

"That trade says everything about the trust top-tier traders have in Hyperliquid. No better marketing for $HYPE than that," Hayes stated.

HYPE Price Today: Surging High

HYPE price today is $31.787, with a 24-hour trading volume of $153,366,800. The HYPE token price is up 11.09% in the last 24 hours.

As of August 9, 2023, the HYPE token ranks no. 340, with a real-time market capitalization of $1,031,940,000. The maximum supply of HYPE tokens is 33,000,000, while its circulating supply is 32,398,352 tokens.

HYPE can be traded on major crypto exchanges, with the majority of HYPE trading pairs being leveraged in BTC, such as HYPE/BTC.

What is Hyperliquid?

Hyperliquid is a decentralized derivatives exchange (DEX) that offers high leverage and aims to provide a comprehensive trading platform. It's designed to support seamless integration with major DeFi protocols and provide advanced features such as multi-chain support and a built-in liquidity mining program.

The exchange is powered by the HYPE token, which serves as both a governance and utility token within the ecosystem.

The platform's mission is to empower users with the tools and flexibility they need to navigate the DeFi derivatives market effectively.

Stay tuned for more crypto news updates.