$10,000 ETH Call: Why Arthur Hayes Is Betting on the “Most Hated L1”
Main Idea
Arthur Hayes, former BitMEX CEO and current CIO of Maelstrom, predicts Ethereum (ETH) could reach $10,000, citing bullish factors like capital shifts, the Pectra upgrade, and increased accumulation by wallets.
Key Points
1. Arthur Hayes shared a chart suggesting Ethereum could surge to $10,000 from its current price of around $2,784.
2. Hayes believes ETH benefits from a shift away from US Treasuries, with gold and Bitcoin as safe assets and ETH offering high beta gains amid rising liquidity.
3. The Pectra upgrade in May triggered a 50% surge in ETH's price, and accumulation wallets increased their holdings from 16.73 million ETH to 22.75 million ETH.
4. Liquid staking also grew by nearly 1 million ETH, from 34.54 million to 35.56 million, indicating potential for further price increases.
5. Ethereum core developer Zak Cole mentioned burn programs as a factor that might drive the next price surge.
Description
Influential investor Arthur Hayes has laid out a conviction case for the price of Ethereum to reach $10,000 His thesis is backed by on-chain data showing whales accumulated a massive 6 million ETH in June alone He views ETH as the best “high-beta” asset to capture gains from a new wave of global liquidity Arthur Hayes (former BitMEX CEO and current CIO of Maelstrom) has made some bold bullish calls on Ethereum, suggesting it could reach $10,000. He shared a chart on X with a potential reversal p...
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