TLDR
- Arthur Hayes predicts 51x growth for ENA, 34x for ETHFI, and 126x for HYPE by 2028.
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Hayes foresees stablecoins becoming a tool for U.S. monetary dominance, fueling DeFi token growth.
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Codex, backed by Hayes, aims to be the first true crypto bank for the Global South.
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Hayes suggests a $10 trillion stablecoin market by 2028 will supercharge DeFi token values.
Arthur Hayes, co-founder of BitMEX, has made bold predictions for several DeFi tokens, forecasting exponential growth by 2028. Hayes believes the global rise of stablecoins will fuel the growth of decentralized finance (DeFi), with projects like Ethena (ENA), Ether.fi (ETHFI), and Hyperliquid (HYPE) at the forefront.
Hayes argues that the dismantling of the Eurodollar system and the growing demand for stable, dollar-backed assets will lead to a significant capital flow into DeFi. He suggests that stablecoins could eventually become a $10 trillion market by 2028, making them a crucial part of the financial ecosystem. This expansion will likely benefit the DeFi sector, with the aforementioned tokens poised for massive growth.
Hayes predicts that ENA could see a 51x increase, ETHFI could grow by 34x, and HYPE could experience a staggering 126x surge over the next five years. These tokens represent key players in the DeFi space, offering solutions in liquid staking, blockchain infrastructure, and decentralized exchanges (DEXs).
Stablecoins and U.S. Monetary Power: Arthur Hayes Vision
In his latest thesis, Hayes argues that stablecoins will serve as a tool of monetary dominance for the U.S. government. Unlike Eurodollars, which operated outside U.S. regulatory control, stablecoins like Tether are backed by U.S. Treasury bills, ensuring that capital directly supports government borrowing needs.
Hayes also envisions social media giants embedding stablecoin wallets into apps like WhatsApp or Instagram. By doing so, billions of people in emerging markets could bypass local currencies and adopt dollar-backed assets, further enhancing the U.S. government’s control over global capital.
Arthur Hayes predictions suggest that stablecoins will gradually replace the Eurodollar system, positioning the U.S. as a global financial powerhouse.
Codex: The First True Crypto Bank?
Perhaps Arthur Hayes most unconventional call is his backing of Codex, a project he believes could reshape finance by providing banking services with stablecoin infrastructure. Codex aims to bridge the gap between traditional finance and decentralized finance by offering on-chain credit services to businesses in the Global South.
According to Hayes, Codex could be the first “true crypto bank,” using blockchain to provide transparent, real-time accounting and lending services. Hayes suggests that Codex could provide much-needed credit to underserved regions, helping them bypass traditional banking systems and build financial inclusion.
The project also benefits from the growing adoption of stablecoins, positioning Codex to play a pivotal role in the future of digital finance.
