Co-founder of BitMEX, Arthur Hayes stablecoin prediction believes that stablecoins will shape the future of decentralized finance. In latest blog post Buffalo Bill projected that the global supply of stablecoins could touch $10 trillion by 2028.
According to Arthur, if that happens then Hyperliquid, a decentralized exchange could capture around 26.4% of this market. Such dominance could lift its current daily trading volume from $11.9 billion to $2.63 trillion that is generating roughly $25.8 billion in yearly fees.
Arthur says that three tokens -ENA, ETHFI and HYPE could see huge growth by 2028 with gains of 51x, 34x, and 126x. He also highlighted Codex as the stablecoins project he’s most excited about, calling it the first real crypto bank.
Still, he admits only about 25% of his past predictions have been correct, but he emphasized that crypto cycles often deliver outsized returns to early believers, recently shared by the Wu Blockchain on their X post.

Source: Wu Blockchain X
Apart from Arthur Hayes stablecoin prediction, he also highlighted Codex in his blog as a stablecoin initiative designed to function like a crypto-native bank. Unlike typical issuers, Codex plans to run with transparent reserves while offering services similar to traditional banks.
He believes this model could bridge the gap between decentralized finance and traditional banking, making it a standout project in the coming years.
Reactions to Hayes’ outlook were mixed. While some investors see his numbers as overly ambitious and others noted that previous market cycles have delivered similar scale returns.
He tied his optimism to rising dollar liquidity, crypto’s correlation with risk assets and the growing role of speculation in driving adoption.
Arthur Hayes stablecoin prediction places the asset at the heart of the next DeFi growth cycle. Whether his numbers play out or not. The focus on Hyperliquid, HYPE, and Codex highlights how rapidly the crypto market is evolving and how speculation continues to shape its future.