Arthur Hayes: ETH is the largest position outside of Bitcoin, breaking through 3000 USD or quickly rushing towards 5000 USD

Arthur Hayes, co-founder of BitMEX and head of the Maelstrom Fund, stated that ETH is the largest position in his portfolio aside from Bitcoin. He pointed out that ETH is the second-largest token by market capitalization but has yet to break through its historical high from 2021. From a risk-reward perspective, its risk of going to zero is much lower than that of other crypto assets, which is why he is willing to allocate heavily.

Hayes believes that due to the limited increase in ETH during this cycle, there is significant room for a rebound. Once the price starts to move, it will create a reflexive upward trend. He indicated that after breaking the $3000 mark, ETH could quickly rise above $5000, and its year-end target price is within reach. Currently, there are still many investors who wish to go long on ETH for various reasons.