BitMEX co-founder Arthur Hayes has issued a $100,000 charitable wager that Hyperliquid's HYPE token will outperform every other cryptocurrency currently in the top 10 by market capitalisation
BitMEX co-founder Arthur Hayes has issued a $100,000 charitable wager that Hyperliquid's HYPE token will outperform every other cryptocurrency currently in the top 10 by market capitalisation, measured in USD terms from June 2 through to the end of the year.
Hayes framed the challenge as a "gentleman's charitable bet," with the contest running through the beginning of 2027. Multicoin Capital co-founder Kyle Samani accepted the wager, backing Solana as the rival to HYPE. Hayes confirmed the bet would be judged using HYPE/USDT and SOL/USDT prices on Bybit. The winner will donate the proceeds to charity.
The bet is not a standalone view. Hayes had already set a $150 price target for HYPE and said the token should surpass Solana before the current bull run ends. He currently holds over 26,000 HYPE tokens in his portfolio and has described Hyperliquid as one of his highest-conviction positions.
Much of HYPE's structural strength comes from Hyperliquid routing roughly 99% of its platform fees into continuously buying the token through a mechanism it calls the Assistance Fund, creating persistent demand that grows with trading activity. The buyback programme has deployed over $1.16 billion to repurchase HYPE in the open market, while the protocol's revenues have grown sharply, with Hyperliquid Strategies reporting $152.5 million in quarterly profit.
Hyperliquid is currently the best-performing crypto among the top 10 by market cap with a year-to-date gain of around 188%. Hayes attached a CoinGecko table showing HYPE ranked tenth and up around 17% over a seven-day window, while Bitcoin, Ethereum and most other top-10 assets were down over the same period.
Samani has argued that Hyperliquid is now "many steps behind" and that it is unlikely major American companies will work with the platform. He also criticised the protocol for not having fully open-source code and for operating a permissioned model for token distribution and validator participation.
The bet resets the race from June 2, meaning HYPE's earlier year-to-date gains do not count, making the wager cleaner but also riskier for Hayes. HYPE has momentum, but it is trading near record highs after a fast run, while Solana is down sharply year-to-date, giving it more room to rebound if risk appetite improves or Solana-specific flows return.
Regulatory tailwinds combined with a built-in buyer have been the core of Hayes' bullish thesis, but critics counter that the same buyback dynamic could unwind quickly if Hyperliquid's volumes slow. The recent launch of a HYPE US spot ETF is the most prominent catalyst traders are watching, as it stands to unlock a fresh wave of institutional demand.
Sources:TradingView: Arthur Hayes throws down a $100K gentleman's betBitcoin.com News: Arthur Hayes stakes $100K that HYPE beats every top-10 coin by year-endBeInCrypto: Arthur Hayes doubles down on Hyperliquid prediction, sees HYPE overtaking Solana
