- Arthur Hayes, BitMEX’s Co-founder, forecasts Ethereum’s potential to surge by 1556% in the AI-enabled economy.
- Ethereum was trading at $1,874.33 at the time of Hayes’s prediction.
In an age where technology leads financial markets, Arthur Hayes, Co-founder and ex-CEO of renowned crypto derivatives trading platform BitMEX, predicts an astronomical rally for Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization.
Ethereum’s Potential within AI-Enabled Economy
Hayes, known for his expertise and insight into the blockchain sphere, believes Ethereum could grow by a staggering 1556%, escalating its current price of $1,875 to a potential $31,063. The impetus behind this surge? The integration of Artificial Intelligence (AI) technology within blockchain transactions.
Hayes envisions the birth of Decentralized Autonomous Organizations (DAOs) powered by AI applications that execute smart contracts. These DAOs are autonomous, self-governed entities driven by pre-set code, without the need for human intervention.
Hayes suggests Ethereum is primed to be the cornerstone of these DAOs due to its extensive adoption as a decentralized virtual machine. Tokens issued by these AI-powered DAOs would be primarily traded on Decentralized Exchanges (DEXs) built on the Ethereum platform.
The Role of DEXs and DAOs in Ethereum’s Projected Rise
DEXs, being innately equipped to support trading of any equity, debt, utility, or participation token issued by an AI-driven DAO, would offer a suitable trading environment. Hayes foresees DAOs fundraising and issuing tokens on-chain, leading to a myriad of new DAO tokens being traded on DEXs.
In his view, as DAOs harness more economic value than traditional companies, DEXs would witness higher trade volume than conventional Centralized Exchanges (CEXs). Hayes goes on to highlight that the explosion of trading volume on Ethereum-hosted DEXs would be a significant driver for on-chain activity.
Although Hayes’s prediction posits a five-figure Ethereum price within the next five years, it is important to remember that the crypto market’s volatility and rapid changes require forward-looking investors. As he aptly sums up,
“I am not concerned about getting this number exactly right. I want to be directionally correct and profit as the narrative shifts from ‘won’t happen’ to ‘might happen.'”
At the time Hayes released his insightful forecast, Ethereum was trading at $1,874.33, marking a 1% decrease over the past week.
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