Hayes Names Ethereum Top Crypto Pick, Sees ETH Surging 3 to 5 Times

Arthur Hayes, co-founder of BitMEX, has named Ethereum his top crypto pick. He believes ETH can surge 3 to 5 times in value 'pretty quickly'. According to Hayes, Ethereum's prolonged underperformance since its 2021 all-time high could set the stage for a comeback. He cited Ethereum's role as the foundation for decentralized finance and its large developer ecosystem as reasons for his bullish outlook.

Hayes also expressed his views on Hyperliquid (HYPE), saying it can continue to rise but offering better opportunities elsewhere, particularly with Ethereum. He noted that HYPE had been the best-performing large-cap crypto of the previous cycle, but its price has increased significantly, making expectations higher now.

In addition to his comments on Ethereum and Hyperliquid, Hayes also reiterated his prediction that Bitcoin could reach $1 million in the next four years due to potential massive money printing and U.S. yield-curve control.