Arthur Hayes bet $100,000 that Hyperliquid, as measured by Hyperliquid Strategies Inc (NASDAQ:PURR) outperforms every other top 10 crypto by year-end, with Multicoin Capital co-founder Kyle Samani accepting and backing Solana (CRYPTO: SOL).

Hayes Has $150 Target, Samani Once Called HYPE Everything Wrong With Crypto

The wager carries extra weight given the history between the two. Samani called Hyperliquid “everything wrong with crypto” in February, criticizing its closed-source architecture and accusing the protocol of facilitating illicit activity. 

Despite those public criticisms, on-chain analysts later found wallets linked to Multicoin Capital had purchased over $40 million worth of HYPE.

Hayes has held a $150 price target on HYPE since March, predicting it reaches that level by August 2026 if annualized protocol revenue returns to $1.4 billion. 

He expects the market to rerate the token from roughly 12 times earnings to around 30 times, implying a fourfold increase. Beyond the bet, Hayes also reiterated his $250,000 Bitcoin target for year-end.

HYPE Hits New All-Time High Above $73 As Social Dominance Peaks

HYPE pushed to a new all-time high above $73 on Monday. Santiment Intelligence reported social dominance reaching its highest level of 2026, with the token capturing more of overall crypto discussions than at any previous point this year. 

Positive sentiment has risen alongside price across X, Reddit, and Telegram.

Growing perpetual futures volume, new trading products, and rising protocol revenues have all contributed to the move. 

ICE CEO Jeffrey Sprecher’s recent comment that Hyperliquid is “bigger than Nasdaq” by trading volume added institutional credibility to the rally at just the right moment.

The ETH Comparison That Keeps Getting Worse For Bitmine

The HYPE rally has also sharpened an uncomfortable comparison for Bitmine Immersion (NASDAQ:BMNR). 

One crypto analyst calculated that if Tom Lee had bought HYPE instead of Ethereum (CRYPTO: ETH) for Bitmine’s treasury, the position would be up 520% and worth roughly $44 billion, potentially surpassing Strategy’s (NASDAQ:MSTR) Bitcoin (CRYPTO: BTC) stack once HYPE hits $100. 

Bitmine currently sits down roughly $8 billion on its Ethereum position as ETH continues underperforming the broader market.

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