BitMEX co-founder Arthur Hayes is predicting Ethereum (ETH) might quickly attain a brand new all-time excessive (ATH).
Hayes tells his 424,600 followers on the social media platform X that he believes Ethereum will soar greater than 100% from its present worth and outperform ETH competitor Solana (SOL).
“Fam, I’ve a confession to make. I acquired a message from the Lord whereas meditating. He stated dump that Sam coin and profess your love for Archangel Vitalik. So I dumped SOL and acquired extra ETH.
ETH = $5,000.”
Ethereum is buying and selling for $2,332 at time of writing, up 4.7% within the final 24 hours.
Hayes makes it clear he’s rooting for Solana to proceed to dip in opposition to Ethereum (SOL/ETH).
“Get Down!!!!
ETH = $5,000.”
SOL/ETH is buying and selling for 0.04100 ETH ($95.63) at time of writing.
Hayes additionally shares his ideas on the potential approval of spot Bitcoin (BTC) exchange-traded funds (ETFs), together with the variations between a so-called money redemption mannequin versus an “in-kind” mannequin.
“Bitcoin ETFs money or in-kind creation what’s essential?
In-kind is less complicated and cleaner for the fund, because the fund doesn’t should direct the buying and selling of BTC, nevertheless it means BTC might be sourced from wherever. Money is extra sophisticated, nevertheless it arms huge energy to the fund. The fund buying and selling desk could have bigly energy to direct what needs to be massive buying and selling flows of BTC.
Given the ‘made in America’ political zeitgeist, you possibly can wager solely politically related brokers and exchanges will likely be used as counter-parties to purchase and BTC for the fund. Will probably be attention-grabbing to watch how the market microstructure modifications if in any respect.
Will worth discovery transfer from East to West? Will an important time to commerce be Monday-Friday at 4 p.m. Japanese Daylight Time (EDT) when the creation/redemption window closes? That is going to open up juicy arbitrage alternatives for many who can commerce on each American and non-American BTC exchanges.”
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