Hayes Sees Crypto Assets Surging as Liquidity-Driven Macro Thesis Takes Hold

Arthur Hayes, co-founder of BitMEX, is predicting significant gains for Ethereum and several DeFi tokens by 2026. According to Hayes, Ethereum (ETH) could reach $10,000 by the end of 2026, which would be a 300% gain from its current price.

In addition to his forecast for Ethereum, Hayes targets DeFi tokens Ethena (ENA) and Ether.fi (ETHFI) to rise over 200%. These predictions are based on Hayes' macroeconomic thesis that increased dollar liquidity, Federal Reserve balance-sheet expansion, and a significant drop in the euro-yen exchange rate will drive up crypto asset prices.

Hayes views these predictions as part of a broader monetary regime bet rather than conventional valuation models. He believes that crypto assets will be key beneficiaries of the anticipated liquidity surge.