Arthur Hayes Sets $10,000 Ethereum Target by End of 2026

Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, has set an ambitious target for Ethereum (ETH), predicting it could reach $10,000 by the end of 2026. In his newsletter dated September 3, Hayes proposed this price point when Ethereum was trading around $2,379. As of October 6, Ethereum’s price stands at $2,704, still 45.3% below its all-time high of $4,946 reached in August 2025. To hit the $10,000 mark by December 31, Ethereum would need a staggering 270% gain in just 86 days, a feat never achieved by the network when its market cap exceeded $100 billion.

Hayes acknowledges that his $10,000 target is speculative and does not provide a valuation model to support his claim. This contrasts with Citi’s more conservative projection of $3,028 for Ethereum. Historically, Ethereum has seen quarterly gains of over 270% only when its market cap was below $30 billion, such as in early 2016 and during 2017. The last time it achieved such growth, its market cap was significantly smaller than its current $330 billion.

To reach $10,000, Ethereum’s market value would need to hit nearly $1.22 trillion, surpassing its current worth by $890 billion. This would require substantial investment, potentially from spot Ether ETFs, corporate purchases, or traders shifting from other cryptocurrencies. Despite the skepticism surrounding Hayes’s prediction, even a more modest surge could benefit holders.

Before aiming for $10,000, Ethereum must first reclaim its all-time high of $4,946, an 83% increase from its current price. Until then, reaching the $10,000 target by 2026 seems unlikely, though Hayes’s prediction could gain credibility if Ethereum surpasses its previous record before December.