Ethereum Price to $10,000? Arthur Hayes Issues Major ETH Prediction

Arthur Hayes, one of the co-founders of BitMEX, issued an ambitious Ethereum (ETH) price prediction. Hayes thinks ETH could hit $10,000 in the current market cycle, marking a new all-time high.

This bold target from Hayes comes amid a renewed optimism in the crypto market. The ETH price is moving in tandem with the bullishness as it climbed past the $2,800 mark.

The Arthur Hayes Ethereum (ETH) Price Prediction

“Arise, Chikun, it’s time…$ETH = $10,000. Yachtzee,” Hayes wrote in a new X post.

The BitMEX co-founder posted an Ethereum chart, alongside the post, that showed early signs of strength. While the post appears playful, the chart hints at positive outcomes for ETH.

The chart highlighted the ETH/BTC pair, which suggests a potential reversal from a two-year downtrend.

This breakout signals growing market confidence in his Ethereum price prediction, usually interpreted as a precursor to significant value appreciation.

If Ethereum ETH holds the recovery, the price could move toward the 0.055 BTC mark. This marks over twice the current position.

Hayes further stated that neither he nor the market is panicking. His statement is in response to a question about whether liquidity pressure from government bond issuance would cause a short-term downfall.

This is not the first time Hayes has set a bold Ethereum price prediction target. In March this year, Hayes predicted a $5,000 rally for ETH. At the time of this forecast, ETH was trading at $2,100.

In the meantime, Ethereum ETH has shown a clean breakout on the price chart. ETH reached as high as $3,028 in the early US hours on Friday.

Although there is still room for more rally, the latest movement shows the bulls are taking over.

At the time of this writing, ETH was changing hands at $2,984, demonstrating a 7% increase over the past 24 hours.

Ethereum Surpasses Bitcoin in Major Futures Volume

In another bold milestone, Ethereum ETH surpassed Bitcoin (BTC) in 24-hour futures volume.

As revealed by Glassnode, ETH futures volume soared to $62.1 billion, surpassing Bitcoin’s $61.7 billion.

This rare flip signals a potential rotation in trader focus as they position ahead of possible ETH-specific catalysts. It also suggests traders are betting on ETH’s price appreciation.

The shift in traders’ appetite towards ETH coincides with a surge in open interest. CoinGlass data revealed ETH open interest surged 8.2% over the past 24 hours to $40.53 billion.

The flipping also comes alongside increased demand from ETFs, ETH whales, and corporate buyers

Why Everyone is Talking about ETH?

Discussions about Ethereum ETH are running hot on the market, driven by positive ecosystem developments. Firstly, Ethereum is gaining more attention among institutional players.

Institutional inflows into ETH Exchange-Traded Funds (ETFs) have remained strong over the past week.

Meanwhile, BlackRock and Franklin Templeton have built tokenized funds on the Ethereum network.

Additionally, Wall Street firms are shifting their focus towards ETH. Bit Digital recently closed its Bitcoin mining business to focus fully on Ethereum staking and treasury operations.

Furthermore, Sharplink Gaming added ETH to its corporate treasuries, mirroring earlier trends with Bitcoin.

As of July 4, the company disclosed total holdings of 205,634 ETH. SharpLink purchased 7,689 ETH between June 28 and July 4.

Ethereum also experienced growth in its Layer-2 ecosystem. Ethereum L2s, like Base, Optimism, and Arbitrum, are designed to make the network faster and cheaper.

This scalability supports DeFi, gaming, and tokenized asset applications, driving network usage.

The tokenization of real-world assets has also gained popularity, with Ethereum as the primary platform.

In summary, strong on-chain metrics, growing institutional adoption, improved wallet experiences, and L2 scalability present a bullish case for the Hayes Ethereum price prediction to come to pass this year.

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