Arthur Hayes Predicts ETH to Hit $5K Before Solana Reaches $300
Crypto entrepreneur and BitMEX co-founder, Arthur Hayes, has made a bold prediction: Ethereum (ETH) will hit $5,000 before Solana (SOL) breaks the $300 mark. As Ethereum regains momentum, surpassing the $2,000 level after weeks of underperformance, Hayes confidently states that ETH is poised for a major surge.
ETH would need a sharp 150% rise to reach the $5K target, while Solana would need a 120% boost to reclaim its previous highs. However, Hayes believes Solana has significant room to grow in the coming years, despite its current market position.
At the time of writing, Ethereum is trading at $2,060, marking an 8% increase in the past week. After facing challenges throughout 2023, ETH is showing signs of recovery, with many analysts, including Hayes, forecasting a return to its former glory. ETH's all-time high of $4,891 was reached in November 2023.
Meanwhile, Solana has experienced a 50% drop from its all-time high of $294, set earlier this year in January. Currently trading near $140, SOL has gained 12% over the past week, and while it has considerable growth potential, surpassing $300 remains a challenge for the near future.
The rivalry between Ethereum and Solana continues to intensify as both compete in the smart contract space, with Ethereum holding its ground as the dominant force and Solana emerging as a serious contender.
