Arthur Hayes, founding father of cryptocurrency buying and selling platform BitMEX, not too long ago expressed a pessimistic view of Solana. He conveyed this sentiment after promoting his SOL holdings to accumulate extra Ethereum.
Curiously, Hayes attributed his downward outlook to a divine message he obtained whereas meditating.
Ethereum worth might attain $5,000
Hayes pointed to Solana’s affiliation with Sam Bankman-Fried, the disgraced founding father of FTX, as an element supporting his damaging stance on SOL. It’s believed that such shut ties might imply bother for Solana sooner or later, which inspired him to promote his properties.
“I obtained a message from God whereas meditating. He stated do away with that Sam coin, and confess your like to Archangel Vitalik. So I gave up SOL, and acquired extra ETH,” Hayes stated. He said.
Following his choice to promote all of his SOL tokens, Hayes predicted a possible rise within the worth of Ethereum. Hayes estimates that ETH could enter a brand new uptrend in the direction of $5,000.
Learn extra: Solana vs. Ethereum: Definitive Comparability
Though Hayes didn’t specify a timeline for this prediction, reaching this worth would characterize a brand new all-time excessive for Ethereum. In truth, which means that ETH will exceed the height of $4,864.11 recorded throughout the 2021 bull market.
In the meantime, SOL is outperforming ETH
Hayes’ bearish view is shocking, given Solana’s worth efficiency and the general progress of its ecosystem. Over the previous yr, the value of SOL has risen by a staggering 875% in comparison with the value of ETH, which has risen by solely 87%.
Likewise, Solana’s decentralized finance (DeFi) ecosystem has seen a rebound, indicating its robust adoption.
For context, on-chain information from DefilLama reveals that the buying and selling quantity of decentralized exchanges on the Solana community has inverted Ethereum’s buying and selling quantity over the previous day. It noticed trades price over $2 billion, whereas these on Ethereum noticed solely $1.45 billion.
Asset administration agency VanEck expects Solana to climb into the highest three blockchains by way of market capitalization, whole worth locked (TVL), and energetic customers within the subsequent yr. Expectations additionally anticipate a number of asset managers to launch a Solana ETF (exchange-traded fund).
Moreover, Solana has established vital partnerships with distinguished world conventional monetary establishments. Reviews from BeInCrypto spotlight collaborations with trade giants like Visa and Shopify, that are leveraging Solana’s know-how to hurry up their cost processes.
