“I believe Ethereum has a greater efficiency outlook, largely as a result of it’s very hated,” mentioned Arthur Hayes in an interview with Fortune on Might 18.
When asked about Ethereum versus Solana, he mentioned, “Everybody thinks Ethereum does nothing, they haven’t finished something appropriately, however it nonetheless has essentially the most TVL, it nonetheless has essentially the most variety of builders, and it nonetheless is essentially the most safe proof of stake blockchain.”
Hayes did acknowledge that ETH costs haven’t finished that effectively since 2020, and Solana has had a latest progress spurt, however added:
“If I’m gonna deploy a contemporary unit of fiat capital into the system, I believe that Ethereum may outperform Solana on this subsequent type of 18-24 months bull run.”
ETH to Outperform SOL
Solana’s major use case is meme coins, and the community did very effectively throughout that frenzy earlier this yr. Nonetheless, now that the bubble has burst, its exercise and income have considerably declined.
Regardless of all of the FUD and hate, Ethereum stays the trade normal for DeFi, dApps, stablecoins, and real-world asset tokenization, having a dominant market share for every class.
Taking a look at latest efficiency, Solana climbed from a low of round $100 in the course of the April 7 crash to high out at simply over $180 on Might 14, earlier than sliding again under $165, notching 80%.
Ethereum has almost doubled over the identical time, climbing from a bear market low of $1,400 to come back simply shy of $2,700 on Might 14, earlier than it retreated again under $2,400.
Whereas efficiency has been comparable, Ethereum has finished marginally higher than Solana over the previous six weeks, so possibly Hayes has seen this potential for future worth will increase.
What About Bitcoin?
When requested about what’s subsequent for crypto markets, Hayes, who additionally admitted to having 20% of his portfolio allotted to gold, mentioned he thought BTC dominance would proceed to climb.
“I believe Bitcoin on this subsequent little run may go near $200,000, after which altcoin season comes round and we’ll see some fascinating issues,” he mentioned earlier than predicting a BTC worth goal of about $250,000 by the tip of the yr.
In a latest blog post, Hayes mentioned that pressures on the US greenback may propel BTC costs to seven figures earlier than the tip of the last decade.
“Overseas capital repatriation and the devaluation of the gargantuan inventory of US Treasurys would be the two catalysts that can energy Bitcoin to $1 million someday between now and 2028.”
The asset had dumped laborious, shedding greater than $3,500 in a couple of hours because it fell under $103,000 on the time of writing.
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