The former CEO of Bitmex, Arthur Hayes, has published his most daring crypto prediction to date, providing that hyperliquid THRESHING The token could increase by 126x of the current levels by 2028 while the adoption of Stablecoin reaches 10 billions of dollars and transforms decentralized exchanges.
Hayes believes that the policies of the Treasury Secretary Scott Bessent could create the largest Taurus Défi market in history.
The “Buffalo Bill” strategy Bessent targets 34 billions of dollars in world deposit
The thesis of Hayes focuses on its conviction that the Trump administration will arrange the stabons to capture 34 billions of dollars in Eurodollar deposits and the assets of the South World Bank, forcing these funds to American cash bills thanks to compliant stable emitters.
The former Crypto leader maintains that this represents a “change of once in the century of world monetary architecture” which will overcome decentralized financial applications.
The prediction comes as Hayes retains substantial positions through its investment fund, Maelstrom, in Ethena (ENA), also known as Ether.fi (Ethfi) and hyperliquid (hype).
His ENA analysis projects could win 51x and ETHFI could obtain 34x yields by 2028 on the basis of a massive adoption of Stablecoin, resulting in a challenge.
Hayes nicknamed the Treasury Secretary Scott Bessent “Buffalo Bill” for his planned dismantling of the Eurodollar banking system, comparing the strategy to take control of foreign non -dollar deposits.
The analysis suggests that WhatsApp and other American technological platforms of Meta will serve as distribution channels for Stablecoins at Pie at a dollar, reaching billions of users worldwide, thus circumventing local banking systems and regulatory restrictions.
#Meta would work at the introduction #Stablecoins to its platform on several fronts, possibly to save on transaction costs.https: //t.co/vcepvyn6pg
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Stablecoin infrastructure to absorb 34 billions of dollars in world deposits
Hayes explains how Bessent could redirect 10 to 13 billions of dollars in Eurodollar depots by threatening to withdraw the support of the Federal Reserve at foreign banks during the next financial crisis.
This change of policy would oblige Eurodollar depositors to comply with stablecoin issuers like Tether, who invest exclusively in American bank deposits and cash bills.
The strategy extends to the capture of 21 billions of dollars of retail deposits in the world from the world via American social media platforms equipped with cryptographic portfolios.
Hayes envisages WhatsApp offering stable -co -sewing stable -co -centers to users in countries like the Philippines, effectively creating bank accounts in digital dollars for billions while bypassing local bank regulations.
The central banks of emerging markets would lose monetary control while citizens adopt stablescoins in Pius for daily transactions.
Hayes argues that local governments lack effective responses beyond the internet closures, while the Trump administration could exercise sanctions against those responsible for the proliferation of stables by threatening their properties of offshore wealth.
Forced adoption would create an insensitive demand for cash bill prices, allowing Bessent to offer lower yields than Fed Funds rates while maintaining the profitability of stable transmitters.
This mechanism could give control of the treasury on short -term interest rates, whatever the political decisions of the federal reserve.
European deposits are confronted with pressures similar to what Hayes predicts the collapse of the euro due to the policies of Germany and France focused on the show that bursts the Union of currencies. The addition of European bank deposits of 16.74 dollars of the target market creates a total addressable market of 34 billions of dollars for the conversion of Stablecoin.
Jpmorgan Research confirms the acceleration of de-political trends, USD central bank reserves reaching stockings of two decades while gold bought the purchase from emerging market institutions.
The foreign property of the US Treasury markets also increased from more than 50% during the 2008 financial crisis to 30% currently, creating financing pressures that stablecoins could mitigate.
DEFI protocols positioned for explosive growth from the institutional flow
The hyperliquid appears to be the highest condemnation of Hayes with a return potential 126x, according to its prediction that the decentralized exchange will become the largest cryptographic trading place of any type by 2028.
The platform currently has a market share of 67% DEX and quickly gains ground against centralized competitors, such as Binance.
Hayes models the hyperliquidal reaching daily negotiation volumes comparable to 73 billion dollars of Binance, as the supply of Stablecoin reaches 10 billions of dollars.
The infrastructure without authorization of exchange via HIP-3 allows any application to integrate the markets of liquid derivatives, by positioning it as the “decentralized binance” for the stablecoin era.
The stablecoin of the Ethena USDE targets the loans market by offering higher yields than cash rates through cash and transport negotiation strategies that Hayes helped to Bitmex pioneer.
The protocol became the third largest stablecoin, with $ 13.5 billion in deposits, positioning it to capture a 25%market share, dragging only the attachment.
Likewise, Hayes compares Ether.fi Cash offers an expenditure infrastructure via stablecoin debit debit cards, with a income model similar to the Fresh JPMorgan ratio of 1.78%.
He has planned that the adoption, which allows users of the world South to spend digital dollars anywhere, the visa is accepted, will generate significant yields.
Stablecoin’s infrastructure already transforms traditional finance, with monthly settlement volumes reaching 1.39 billion of dollars in the first half of 2025.
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