Hayes Sees ETH Rally Past $5,000 on Break Above $3,000

Arthur Hayes, co-founder of BitMEX, has revealed that Ethereum is now his second-largest cryptocurrency holding after Bitcoin. In an interview with crypto journalist Laura Shin, Hayes discussed his portfolio allocation and expressed optimism about ETH's potential to reach new highs.

Hayes emphasized that Ethereum carries a much lower risk of falling to zero compared to other altcoins, making it suitable for large-scale investment. He noted that the asset has not yet surpassed its 2021 all-time high, presenting a significant opportunity for catch-up.

The interview marks a notable public endorsement from a prominent figure in the crypto space. Hayes suggested that if ETH breaks above the $3,000 level, the momentum could accelerate quickly, potentially pushing the price past $5,000. However, he emphasized that such predictions are inherently speculative and subject to various market factors.