Arthur Hayes Just Pumped HYPE – But This New Altcoin Is Getting Even More Attention

This bullish forecast has holders frantically recalculating their price targets. But a new altcoin – Best Wallet Token – is getting even more attention

Arthur Hayes, the outspoken co-founder of crypto exchange Hyperliquid, has set a price target of $100 for the HYPE token, despite it already heating up the market with a new all-time high of $35.85.

At the beginning of the week, Hayes took to X (formerly Twitter) to share his thoughts on a billion-dollar BTC long position that someone had made on Hyperliquid. According to Hayes, the trade was the “best advertising” possible for the chain.

“This is the best advertising for $HYPE. Let’s take this mother fucker to $100. Yachtzee,” said Hayes.

The Hyperliquid chain is purpose-built for trading speed, with its own chain and a fully on-chain order book good for more than 100,000 transactions per second with minimal latency. This allows traders to quickly execute and settle trades, even large-scale ones like the $1 billion BTC long.

For example, if a trader hits ‘buy’ on a BTC position, they will usually see the trade settle in about 0.001 to 0.005 of a second. In comparison, if the trader is using another chain like Optimism, they would have to wait about 60 seconds for the transaction to be included in a block.

The chain is also known for its high-yield staking options, with rates of up to 55% APY on the HYPE token, which can be used to vote on network upgrades or simply hold and benefit from the 26% annual burn that reduces the overall supply.

The HYPE token also features revenue sharing, where a portion of the chain’s transaction fees are paid out to HYPE holders in the form of an airdrop. This creates an incentive for traders to use the chain and contribute to the ecosystem.

The chain’s community is also a strong point, having recently completed a record-breaking airdrop campaign that distributed HYPE to nearly 100,000 wallets worldwide.

If the HYPE token reaches $100, it would triple from today’s new all-time high of $35.85 and push the token’s market cap to about $33.3 billion, making it the ninth largest crypto in the world.

It’s a bold prediction, but not entirely impossible considering Hyperliquid’s plans to eliminate the last elements of centralization over the next six to twelve months with the migration of its core functions to a fully community-governed instance. This move would tick enough compliance boxes to lure in institutional investors still skeptical of decentralized finance (DeFi).

Moreover, March’s rollout of HyperCore/HyperEVM chain bridging means traders can now move assets easily between the main chain and the EVM chain, further boosting the chain’s appeal to a wider range of crypto users.

Taking these factors into account, it seems that Arthur Hayes’s prediction of $100 for the HYPE token might not be as far-fetched as it initially appears.

While Hyperliquid’s HYPE token has certainly been heating up the market with its presale and a price target of $100, another altcoin that’s catching attention is Best Wallet Token.

Some early backers of Best Wallet believe that it could soar even higher than Hyperliquid, especially with its presale set to end soon.

Best Wallet has already managed to raise $12.6 million in presale funding, with tokens available for purchase at $0.025065 each.

Only 4.5% of the total BEST supply has been allocated to the presale, which might explain why there’s been such a frenzy for the token despite its low price. This scarcity could also be a huge positive once Best Wallet finally lists on exchanges.

Buyers are also hyped about the token’s utility in the Best Wallet ecosystem, which is described as a ‘super app’ that combines custody, swaps, presale access, and staking into one platform.

This multi-chain wallet already boasts over 250,000 monthly users who can now access 60+ blockchains and exchange cryptocurrencies with zero trading fees for the first month.

Those who prefer staking can also earn market-beheating yields of up to 120% APY on the BEST token, which is used for reducing transaction fees, accessing the ‘Upcoming Tokens’ crypto launchpad, and voting on upcoming rollouts like the ‘Best Card’ and derivatives trading.

Best Wallet also stands out with features like cloud-backed seed recovery, biometric log-ins, and Fireblocks-grade MPC security, setting it apart from other multi-chain wallets.

Even analysts like Austin Hilton are bullish on the wallet’s future, noting that it's the "best performing token of 2024" with "no rugpull