- Hayes described Hyperliquid as the best-run DEX while distinguishing platform performance from potential investment returns.
- He said U.S. expansion could introduce leverage and product restrictions that affect Hyperliquid’s growth.
- HYPE traded near $88.89, with $92 resistance and $88 support defining the immediate price range.
Flop Labs CEO Arthur Hayes said Hyperliquid remains the best-run decentralized exchange, but its size limits potential investment returns. In a Sept. 12 interview with VirtualBacon, Hayes said Hyperliquid could keep growing despite competition and its U.S. expansion. However, its roughly $85 billion to $90 billion FDV makes another fivefold gain harder.
Hayes Separates DEX Quality From Returns
Hayes said Hyperliquid is the best-run decentralized exchange and expects continued growth. He also compared its size with other major crypto assets. According to Hayes, the exchange already represents a much larger investment base.
Therefore, generating another fivefold increase would require a much larger rise in overall market value. Hayes contrasted Hyperliquid with Ethena, which he said had fallen 99%.
He argued that a smaller asset requires less additional market value to produce a fivefold return. However, Hayes said his comments concern investment returns rather than Hyperliquid’s operation. He said he believes Hyperliquid can continue building on its existing progress.
U.S. Expansion Adds More Questions
Hayes also discussed Hyperliquid’s planned U.S. expansion and the effect of compliance requirements. He questioned whether the U.S. product would retain the features available on its existing platform.
He specifically raised the possibility of restrictions affecting leverage and access to certain products. Hayes said those requirements could affect how quickly Hyperliquid grows. Meanwhile, he said the exchange faces competition and increased attention as it expands.
Those conditions could force changes to its products, according to Hayes. He also said he prefers permissionless products that can launch without asking for approval. However, he described the U.S. expansion as one factor affecting his investment view.
HYPE Price Holds Near $89
The 4-hour HYPE/USDT chart shows the token trading near $88.894. The latest candle opened at $88.910, reached $89.596 and fell to $88.416. HYPE previously moved from the 80-86 range above $92 in September.
The token later reached nearly $98 around Sept. 23 before falling toward $85. Currently, $92 represents immediate resistance, with 96-98 forming another resistance area. Meanwhile, $88 provides near-term support, followed by 84-85 and then $80.
The RSI is at 49.76, while its average is 42.94. The MACD histogram is positive at 0.432, with the MACD line above its signal line. A move above $92 could expose 96-98. Conversely, losing $88 could put 84-85 back into focus.
