Arthur Hayes Predicts Up To 126x Gains for ENA, ETHFI, HYPE & Unveils Vision for ‘Crypto Bank’ Codex

Arthur Hayes, the influential former CEO of BitMEX, has once again captured the attention of the cryptocurrency world with a set of audacious predictions for specific altcoins. In his latest analytical commentary, Hayes posited that three relatively new tokens possess the potential for substantial appreciation over the next three years, driven primarily by macroeconomic liquidity shifts. These pronouncements underscore his long-held belief that global capital flows remain the paramount determinant of crypto market cycles.

Hayes’ Altcoin Predictions

Hayes’ forecast highlights three distinct altcoins, each with varying projected growth ceilings:

• ENA, currently valued at approximately $0.64, is projected for up to 51 times growth by 2028.
• ETHFI, around $1.09, is anticipated to see up to 34 times growth by 2028.
• HYPE, recently exceeding $50, is predicted for an impressive up to 126 times growth by 2028.
• These projections are fundamentally linked to anticipated global macroeconomic liquidity injections.
• Hayes categorizes projects into infrastructure/staking tokens (e.g., ENA, ETHFI) and culturally-driven speculative assets (e.g., HYPE).

Token	Projected Growth by 2028	Current Status (approx.)
ENA	Up to 51 times	Around $0.64, exhibiting neutral-to-bullish sentiment.
ETHFI	Up to 34 times	Around $1.09, still in recovery after a notable decline.
HYPE	Up to 126 times	Above $50, recently reaching a new all-time high with significant community engagement.

Foundational Macroeconomic Outlook

The foundation of Hayes’ optimism rests on what he identifies as robust global liquidity cycles. He anticipates fresh capital injections into the broader financial system will inevitably cascade into the crypto sector, fueling widespread rallies similar to previous bull phases. From a project perspective, Hayes differentiates between infrastructure and staking tokens, such as ENA and ETHFI, which he views as fundamentally well-positioned, and culturally driven, speculative assets like HYPE. He asserts that the latter can often exceed the performance of more fundamentally sound projects during periods of ample liquidity, stating, “Speculative projects often outperform their fundamentals in the right liquidity environment.” Hayes, however, maintains a pragmatic view, acknowledging that historically, only about 25% of his past market forecasts have proven accurate.

Beyond Altcoins: The Codex Project

In addition to his altcoin predictions, Hayes also drew attention to the Codex project, envisioning it as potentially the first true “crypto bank.” He distinguishes Codex from conventional stablecoin issuers by its commitment to transparent reserves and the provision of comprehensive banking services within the burgeoning digital asset ecosystem. Hayes emphasizes the critical role of stablecoins in the forthcoming market cycle, positioning Codex as a vital bridge connecting traditional financial infrastructure with blockchain technology. This perspective highlights a growing industry focus on regulated, transparent financial services built on decentralized platforms, addressing a key challenge in mainstream crypto adoption.

Ultimately, Hayes reiterates that the primary drivers for explosive crypto rallies remain dollar liquidity and a broader appetite for risk among investors. While some observers may categorize his bold predictions as merely “thought experiments,” they consistently ignite vigorous debate within the financial and technological communities. Such discussions are crucial for shaping investor sentiment and strategic planning as the market anticipates its next significant phase, underscoring the enduring influence of prominent analysts like Hayes on the digital asset landscape.