Arthur Hayes: Hyperliquid Is the Best DEX, but Not Necessarily the Most Profitable Investment Flop Labs CEO Arthur Hayes @CryptoHayes said in a September 12 interview with VirtualBacon @virtualbacon that Hyperliquid is the best-run decentralized exchange today, and he believes the project will continue to grow.However, from an investment-return perspective, Hayes said Hyperliquid is already very large, making another 5x gain much harder. In his view, Hyperliquid may be the best DEX, but not necessarily the most profitable investment. By comparison, lower-market-cap tokens that have fallen more sharply may require much less additional market value to deliver higher multiples. WuBlockchain note: Arthur Hayes has a relatively poor historical track record on market forecasts and frequently adjusts his views. His analytical framework may be more useful to follow than his specific price targets or timing calls.