Investment firm Multicoin Capital is making a bold prediction: the HYPE token, native to decentralized exchange Hyperliquid, could reach $319 by 2028. That’s a significant jump from current levels, and the firm’s reasoning centers on Hyperliquid’s rapid growth.
According to Multicoin, Hyperliquid’s user base grew from roughly 300,000 to 923,000 over the course of 2025. The firm describes Hyperliquid as evolving into an “everything exchange” — a single platform that handles a widening range of trading activity.
Hyperliquid has carved out a niche in the DeFi space by offering a decentralized trading experience that feels more like a centralized exchange. Low fees, fast execution, and a clean interface have helped it attract users who might otherwise stick to traditional platforms.
Whether the $319 target holds up depends on a few things: continued user growth, broader crypto market conditions, and whether Hyperliquid can maintain its momentum as competition heats up. The prediction is optimistic but not outlandish given the platform’s current trajectory.
For context, the HYPE token has already seen significant volatility. It’s the kind of asset that could swing dramatically in either direction depending on market sentiment. As always with crypto predictions, take the price target as one firm’s view rather than a guarantee.
