Arthur Hayes, the founding father of the famend crypto trade BitMEX, has bought off his holdings in Solana (SOL) and redirected his funding in direction of Ethereum (ETH).

In accordance with Hayes, this strategic shift stemmed from an enlightening meditation session that prompted him to reassess his portfolio, favoring Ethereum over Solana.

Arthur Hayes Predicts Ethereum to Attain $5,000

Hayes holds a optimistic outlook on Ethereum, partly influenced by his admiration for the mission’s co-founder, Vitalik Buterin. He believes the worth of ETH may attain $5,000

Fam … I’ve a confession to make.

I acquired a msg from the Lord whereas meditating. He stated dump that Sam coin POS, and profess your love for Archangel Vitalik.

So I dumped $SOLand bot extra $ETH.$ETH = $5,000

— Arthur Hayes (@CryptoHayes) December 22, 2023

Hayes, identified for his eager insights into the crypto world, has been a vocal supporter of Ethereum, particularly after its profitable transition to a proof-of-stake mannequin.

He believes the market has not but totally appreciated the importance of Ethereum’s profitable transition. In accordance with him, this alteration positions Ethereum to assist a brand new ecosystem of progressive companies and protocols.

Relating to Solana (SOL), Hayes has beforehand speculated that its value may hit close to $100 throughout a bullish interval for altcoins. This prediction got here at a time when each Ether and Solana had been experiencing important rallies, with the latter reaching contemporary 19-month highs.

Who is prepared for a weekend alt szn inexperienced doji piss up? Can we ship $SOL over $100? Let’s do it fam 🫡🫡🫡🫡🫡🫡

— Arthur Hayes (@CryptoHayes) December 5, 2023

Nonetheless, his latest determination signifies a change in perspective, probably acknowledging the market’s unpredictable nature and the necessity for strategic flexibility.

Ethereum’s December Rally

The latest efficiency of Ethereum seems to assist Hayes’ optimistic outlook. In the beginning of December 2023, ETH had skilled a big surge in worth, surpassing $2,100.

A major issue fueling this upswing is the heightened anticipation surrounding the U.S. Securities and Change Fee’s (SEC) consideration of a spot Ethereum Change-Traded Fund (ETF).

This improvement has introduced a wave of bullish sentiment to the Ethereum market as buyers speculate on the potential affect of such an ETF on the cryptocurrency’s worth and accessibility.

Ethereum’s efficiency in November was additionally noteworthy, outperforming Bitcoin with a 13% surge in comparison with BTC’s 8% rise throughout the identical interval. This progress was primarily pushed by BlackRock’s official submitting for a spot Ethereum ETF.

In accordance with the newest data from CoinGecko, Ethereum is at the moment buying and selling at $2,275.86, with a buying and selling quantity of $19,804,097,775.35 previously 24 hours. This value represents a 2.84% improve within the final 24 hours and a 14.45% rise over the earlier 30 days.