Hayes Targets Ethereum at $10K, DeFi Tokens in Aggressive Year-End Predictions

Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, has reaffirmed his bullish stance on Ethereum and two high-beta DeFi tokens. In a recent 'Atención' newsletter, Hayes set year-end targets that would require ETH to reach $10,000, Ethena (ENA) to hit $0.50, and Ether.fi (ETHFI) to reach $2.

Hayes' predictions are not supported by traditional valuation models but rather stem from a macro thesis centered on dollar liquidity, Federal Reserve balance-sheet expansion, and a decline in the euro-yen exchange rate.

Ethereum was trading around $2,400 at the time of Hayes' announcement, leaving his $10,000 target roughly 300% above current levels. Coinpaper previously covered Ethereum forecasts ranging from $7,000 to $20,000, as institutional adoption and public-blockchain settlement increasingly shape the ETH investment case.

Hayes has also argued that Ethereum could become a core institutional settlement layer, while predicting that many competing Layer-1 networks will eventually lose relevance. ENA was trading near $0.15 Thursday, with Hayes' $0.50 target representing roughly 230% upside. ETHFI was trading around $0.56, putting Hayes' $2 forecast about 250% above recent levels.