BitMEX’s co-founder and former CEO Arthur Hayes made a striking comment about the altcoin king Ethereum (ETH). Hayes announced that he sold his Solana (SOL) holdings and bought more ETH, expecting it to rise to $5000.
“I Sold SOL and Bought More ETH”
Known for his timely and accurate calls, Hayes shared a bold prediction for ETH from his personal X (formerly known as Twitter) account. The famous predictor stated that he sold his SOL and bought more ETH in anticipation of the largest altcoin reaching $5000:
I must confess something. While meditating, I felt the need to abandon Sam coin (SOL) and switch to Vitalik Buterin’s ETH. So, I sold my SOL and bought more ETH. I’m waiting for ETH to rise to $5000.
According to current data, ETH is trading at $2260 at the time this article was written. Hayes’ forecast of $5000 represents an approximate 2.5-fold increase for the altcoin king.
Solana’s SOL Hits $100
Meanwhile, the price of Solana’s SOL, which Hayes announced he sold, has reached $100. Current data shows that SOL, after a slight pullback, is trading at $98.72, up 17.60% in the last 24 hours. SOL, which took a heavy hit with the bankruptcy of the cryptocurrency exchange FTX in November 2022 and fell to $8, is now back to its April 2022 levels. SOL’s significant rise has brought it to a market value of $42 billion, making it the fourth-largest cryptocurrency.
Market observers and analysts emphasize that the $100 level is a significant threshold for the altcoin, and surpassing this threshold could lead to a much stronger upward momentum. However, they also warn that the current rise may have reached an extreme point and advise caution.
