On-chain tracking platform Lookonchain reports that BitMEX founder Arthur Hayes resumed buying Hyperliquid's native token HYPE on July 21 after nearly three months, acquiring 26,022 tokens for approximately $1.1 million.
Hayes now holds a total of 247,334 HYPE, valued at roughly $10.44 million at current prices, with an unrealized profit exceeding $2.23 million.
Hayes: HYPE is the Only Asset I'm Buying
Hayes has been consistently bullish on HYPE. He previously stated that HYPE is the only asset he is "continuously buying" in his portfolio, setting a $150 price target (currently around $41). His confidence stems from Hyperliquid's business model: the protocol is the largest fee earner in crypto excluding stablecoin issuers, with 97% of revenue used to buy back HYPE, creating sustained demand.
Hyperliquid Ecosystem Expands
Hyperliquid has been actively upgrading. The HIP-3 proposal from late last year "permissionless" perpetual markets, allowing anyone to stake tokens to create their own perpetual markets with custom oracles, leverage, and risk parameters. This shifts listing power to market competition, making Hyperliquid an open derivatives issuance platform.
The HIP-4 proposal in February standardized "event outcomes" as tradable assets, covering prediction markets and option-like structures. For example, whether a price breaks a certain level or a macro event occurs can now be traded as contracts. HIP-4 is currently on testnet. Together, HIP-3 addresses "who can create markets" and HIP-4 addresses "what can be traded," transforming Hyperliquid from an exchange into a universal financial contract platform.