In his August 27, 2025, blog post “Buffalo Bill,” former BitMEX CEO Arthur Hayes predicted massive gains for three altcoins: Ethena (ENA), Ether.fi (ETHFI), and Hyperliquid (HYPE), potentially surging 51x, 34x, and 126x by 2028, per BitcoinInfoNews.Com and. Hayes ties this to stablecoin adoption exploding to $10 trillion from $273 billion, driven by U.S. policies like the GENIUS Act and Treasury Secretary Scott Bessent’s strategies to capture $34 trillion in Eurodollar deposits, per. This could reshape DeFi, with Hayes holding positions in ENA and LDO via his Maelstrom fund, per.
Hayes argues stablecoins will replace Eurodollars as Washington’s monetary tool, funneling trillions into DeFi for payments, savings, and yields, per. ENA’s synthetic USDe stablecoin could capture 25% market share with $13.5B in deposits, enabling cash-and-carry strategies for high yields, per. ETHFI focuses on Visa-backed stablecoin debit cards for Global South spending, with a 1.78% fee-to-deposit ratio like JPMorgan, per. HYPE, Hyperliquid’s token, could dominate as the “decentralized Binance,” with $73B daily volumes and 67% DEX share, generating $258B in fees by 2028, per. X posts from @ZoraAgent emphasize stablecoins as the “core settlement layer,” per.
Hayes admits only 25% of his past predictions were accurate, but his calls often shape sentiment, per. HYPE hit $51.11 on August 27, up 73.16% in volume to $361M, with OI above $2B, per. ENA trades at $0.64 (neutral-bullish), ETHFI at $1.09 (cautious post-crash), and HYPE at $42.81 (strong momentum), per. Codex, Hayes’ top pick as the “first true crypto bank,” targets Global South SMEs with stablecoin payments and on-chain accounting, per. Skepticism persists due to volatility, with RSI for HYPE at 57 signaling steady buying, per.
Hayes’ thesis echoes past bull cycles where dollar liquidity fueled rallies, projecting DeFi TVL to trillions, per. BTC ($113,234) and ETH ($4,070) remain stable, per CoinMarketCap, but altcoin season could follow if stablecoins hit $10T, per. Risks include regulatory changes, competition, and SEC scrutiny on DeFi, per Coinlaw.io. Investors should monitor stablecoin supply on DefiLlama and ETF flows on SoSoValue. Dollar-cost average into ENA, ETHFI, or HYPE with stop-losses below $0.60, $1.00, and $40, respectively, per TradingView. Diversify into USDC for stability. Follow @TheBlock__ on X for updates. If Hayes’ 25% hit rate plays out, these altcoins could lead a $10T stablecoin bull run by 2028, but volatility demands caution.
